Good Technology, which provides mobile device management and security to enterprises, officially withdrew its plans for an initial public offering on Friday.
In early September, the company announced that it would be acquired by Blackberry (Nasdaq: BBRY) for $425 million.
Device management peer MobileIron (MOBL), which raised $100 million in a June 2014 IPO, is down 60% year-to-date and has a market cap of less than $300 million.
The Sunnyvale, CA-based company was founded in 1996 and booked $212 million in sales for the 12 months ended December 31, 2014. It had planned to list on the Nasdaq under the symbol GDTC. J.P. Morgan, BofA Merrill Lynch, Barclays and Citi were set to be the joint bookrunners on the deal.
