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PrintCafe poised to go public

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PrintCafe, the US printing software supplier, wants to raise nearly 50m in its second attempt at going public.

The initial public offering (IPO) aims to sell 7.5m shares (33% of the outstanding stock) at up to 6.95 ($9) each to raise the 46.9m.

It will use the cash to repay debts racked up from a string of acquisitions in the MIS and e-commerce market.

This included the purchase of Californian firm Impresse.

PrintCafes last tilt at an IPO failed in the summer of 2001 after it withdrew its planned 102m bid because of the worsening market (PrintWeek, 8 June 2001).

Mary Murrin Smith, the firms director of industry relations, said at the time unfavourable conditions killed off its bid.

But it would apply to the US Securities Exchange Commission "when the time was right".

PrintCafe, based in Pittsburgh, Pennsylvania, applied in February to list its shares on the Nasdaq market.

The firm boasts that its software is used by more than 4,000 customers, including all, bar one, of the 25 largest printing firms in North America.