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Daily Digest: December 3, 2009
Archiving, E-Discovery, & Compliance

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Email, Messaging & Collaboration

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Blog Item(s)

Mimosa Funding Challenges

Archiving vendor has recently had a couple of small financings:

  • $3M of equity in June, 2009
  • $4M of debt in November, 2009

Mimosa has never made a profit, and the recession of course has made fund-raising harder. We understand an IPO was deferred due to poor results. We understand, too, that Mimosa sought a buyer last year, but the valuations weren't acceptable to management.

No doubt management is working hard to align revenues with expenses.

We don't know the details, but presumably the cost of the recent financings has been high. In situations such as this, companies with good technology can find they're forced into a fire sale buyout. Sometimes a small short-term debt financing is an immediate precursor to a fire sale.

If an acquisition takes place, it is to be hoped that the acquirer will continue to invest in Mimosa's technology. Sadly, this doesn't always happen. Many acquisitions end in tears, especially where the purchase was inexpensive. ... David Ferris


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Copyright © Ferris Research 2009.


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