Milestone Not Preparing for IPO

Milestone Not Preparing for IPO

At their annual event, Milestone Systems opened MIPS 2014 in Orlando with President/CEO Lars Thinggaard clarifying a rumor that the company is about to go public. The rumor apparently originated from a remotely-placed security analyst and was started to create controversy prior to the start of MIPS.

Milestone Not Preparing for IPOTaking the stage for an opening keynote speech, Thinggaard asked how many people in the audience follow this analysts’ blog. So few hands were raised in the air, you couldn’t populate a six-year-olds’ birthday cake with an equivalent number of candles.

The analysts’ blog said, “A UK news report and conflicting statements from Milestone to IPVM indicate that the company is imminently preparing to go public, the culmination of a much discussed plan for the Danish VMS developer.”

Controversy be gone, Thinggaard said that the company is focusing on its global leadership rather than an IPO.

“We’re not preparing for an IPO this week, in two weeks or two months. An IPO is not on our plate at this time. We’re focusing on a lot of things that pertain to our business structure at this time. Period.”

Taking advantage of attending MIPS, Thinggaard reiterated more than once that an initial public offering was not in the works and that everything a person might read on a certain blog just isn’t true.

About the Author

Ralph C. Jensen is editor-in-chief of Security Today magazine.

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