, a computer storage products maker, said its software products unit
is withdrawing its filing for an initial public offering.
The company filed for the IPO with the
Securities and Exchange Commission
Adaptac said the withdrawal "will provide Roxio with the flexibility to consider a variety of options, including re-entering the public markets when market conditions improve, or pursuing other strategic opportunities.''
On Dec. 1, Adaptec
postponed Roxio's IPO, citing unfavorable market conditions.
Shares of Adaptec closed at $12.13 in
trading, but fell to $11.81 in after-hours activity on