Compellent Meets Qatalyst Partners and Stock Rises 13%
Close sources informed the press that Compellent is seeking for solutions, inclusive a sale option. Compellent Technologies Inc. – the leading data storage provider met Qatalyst Partnets for assistance. The former ones are known for the 2009 integration of 3Par Inc into Hewlett-Packard.
In the rumor appears also Morgan Stanley, which was due to the 2007 initial and public offer. Although none of the companies implicated refused to comment upon the leak, Compellent shares raised by 13%, being traded in the second part of the day with $19.99.
In a short review over the past years, the Minnesota-based company – Compellent Technologies Inc developed more than expected. Phil Soran, CEO and Co-Funder of the company thinks retrospectively to the triggering mechanisms that helped Compellent to grow in a market where there was hardly any room for competitors. Their key was to implement and design functional systems which soon led to market share.
In addition, the press coverage played an important role. “We got covers of magazines and the front page of the business section, and we got a lot of interest — people, frankly, calling to ask, “Can we come and see what you’re doing?” A lot of them wanted to be part of it. Our first reaction was to give them what I call the “Heisman Trophy”, sort of stiff-arm them and tell them we are in stealth mode.”
Undoubtedly, Compellent is an attractive target grace to its phenomenal development. Phil Soran states that “Last year we grew 38% year-over-year. I think our segment shrank about 5%. So that was a big market share winner right there”. In the second quarted of 2010, the company is reported to have a 27% increase from the last year. On Tuesday another updated report for the third quarter is expected to be make public.
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