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HotOffice to go cold

The company, which hosts Web-based intranets, tells customers it is ceasing operations later this month and directs customers to rival

HotOffice Technologies is turning out the lights.

The Boca Raton, Fla.-based company, which hosts Web-based intranets, told customers on Thursday that it is ceasing operations later this month. Blaming "market conditions" for its downfall, HotOffice directed customers to rival

"Like many Internet companies, despite intensive efforts, our inability to raise capital in the current market conditions left us without options," HotOffice said in a note to customers. "We have enjoyed serving our customers and are doing everything we can to ensure a smooth transition."

On its Web site, welcomed HotOffice clients.

"We want to help make your move from HotOffice to fast and easy," said in a note on its site. "To get you started, we've created a complete step-by-step guide on transitioning your HotOffice to"

HotOffice and representatives did not immediately respond to calls seeking comment.

HotOffice joins a growing number of application service providers to exit the market. Red Gorilla closed its doors in October. And Pandesic, a joint venture of Intel and SAP, shut down in July.

Intel and Staples both held stakes in HotOffice.