Deals
Parallels Nears IPO While Advancing in $40 Billion Cloud Market
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Parallels Inc., a U.S. software developer seeking growth in cloud-computing services, is nearing an initial public offering after selling a stake to Cisco Systems Inc. this year, Chairman Serguei Beloussov said.
“While an IPO definitely won’t be in the first half of this year, it may happen sometime later, depending on market conditions,” Beloussov, Parallels’ co-founder, said in an interview in Moscow. The company may use proceeds to expand in the growing market for cloud services, he said.