Storage Soup

Apr 15 2010   8:42PM GMT

Double-Take reports acquisition interest

Beth Pariseau Beth Pariseau Profile: Beth Pariseau

An interesting tidbit from host-based replication, iSCSI SAN and boot-from-SAN vendor Double-Take Software Inc.’s quarterly earnings forecast press release this week:

Double-Take…has received unsolicited, non-binding, written conditional indications of interest to acquire the Company at prices above recent trading prices of its shares. The Company’s Board of Directors, in consultation with its financial and legal advisors, is reviewing these indications of interest, and considering other possible strategic transactions. There can be no assurance that any transaction will occur, that any transaction involving a purchase of the Company that may occur would be at or above the prices stated in the indications of interest or as to the timing of any transactions that may occur. Double-Take does not expect to make further public comments regarding these matters unless and until it enters into a definitive agreement with respect to a transaction or determines that none will be pursued.

Meanwhile, the first calendar quarter of 2010 finished “weaker than expected” for Double-Take, which now expects first quarter revenue to be in the range of $18.8 million to $18.9 million, compared to its previous guidance of $20.0 million to $21.2 million. The new forecast is down from $22.8 million in revenue in the previous quarter and up a bit from last year’s $18.2 million. Double-Take will officially report earnings May 4.

The release quoted CEO Dean Goodermote saying “although we are evaluating expressions of interest in the company, we continue to plan for a strong independent future.”

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