PrintCafe has withdrawn its planned 102m ($144m) initial public offering (IPO) citing adverse market conditions and changes to the business.


It applied to the US Securities and Exchange Commission (SEC) for its listing in March 2000.


The Pittsburgh-based companys director of industry relations, Mary Murrin Smith, said general market conditions in the US had not been favourable since the firm filed its IPO proposal. "The company has changed significantly as well since we bought Impresse," she said.


PrintCafe acquired the intellectual property and assets of the Californian firm after it closed last month (PrintWeek, 4 May).
Murrin Smith added: "This enables us to discuss the company and promote it. After you apply to go public, youre monitored by the SEC, so youre limited in what you can say."


PrintCafes IPO details regarding the number of shares and price had not been set. Murrin Smith said the company would reapply when the time was right, but could not say when that would be likely. PrintCafe had sought a listing under the symbol PCAF on the NASDAQ exchange.


Story by John Davies