Acquia Won't Rush IPO [Dec. 19, 2013]
By Rohan Pearce
Boston-based Web technology company Acquia is heading towards an IPO but it's in no rush to go public according to Dries Buytaert, Acquia's co-founder and the creator of the open source CMS Drupal.
"For us [an IPO] is something that we're working on but it's not front and centre right now," Buytaert, the CTO of the Drupal services firm, said.
"We think it's a key milestone, but it's only just that as well: It's a milestone in a much longer path to building a significant independent company. So that's the reason I say we're not obsessed with it."
Earlier this year, the company hired Dennis Morgan as CFO, which is "obviously a key component for being able to do an IPO," the CTO added.
"In general we want to be an IPO-ready company such that we have the luxury to file for an IPO if we were to choose to," Buytaert said.