Push technology vendor PointCast this week changed its plans for an initial public offering (IPO) of common stock, and will instead focusing on a strategic partnership.
In order to legally hold partnership discussions with other companies, PointCast was required to withdraw its Form S-1 Registration Statement it had filed with the Securities and Exchange Commission, according to PointCast President and CEO David Dorman.
"There are tremendous opportunities to strengthen and leverage our business through options that have recently emerged," Dorman said. The company did not elaborate and did not immediately return a phone call seeking comment.
The move follows Vantive's purchase last month of push company Wayfarer Communications. At that time, analysts said that push companies needed partners to remain viable and predicted further consolidation in the push market.