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GFI Software withdraws $79 million IPO

Posted
11/22/2013 2:28:00 PM
By: Renaissance Capital
Referenced Stocks:GFIS

GFI Software, which provides collaboration and remote IT management software to small businesses, withdrew its plans for an initial public offering on Friday citing poor market conditions. The company was scheduled to price last night but ultimately had to postpone its deal. The Luxembourg-based company was founded in 1999 and booked $152 million in sales for the 12 months ended September 30, 2013. GFI Software initially filed confidentially on April 20, 2012. J.P. Morgan, Credit Suisse and Jefferies & Co. were set to be the joint bookrunners on the deal.