Saturday, 2 April 2016

Cybersecurity firm could be first tech IPO in 2016

SAN FRANCISCO — A cybersecurity firm could be first U.S. tech IPO in 2016.

SecureWorks Corp., a computer security company owned by Dell Inc., is hoping to launch an initial public offering this month and market the offering during an IPO roadshow the week of April 11, according to a report in Friday’s Wall Street Journal, which cited unnamed people close to the deal.

The Atlanta-based company provides computer security for corporations. It is owned by Dell’s parent company, Denali Holdings Inc.

In a filing with the Securities and Exchange Commission in December, SecureWorks said it planned to trade on the Nasdaq under the symbol SCWZ. It declined to comment on its pricing plans.

If the IPO succeeds, it will be the first U.S. tech IPO of 2016.

In the first quarter of the year, the IPO market in the United States hit its lowest levels since the financial crisis of 2008-2009. Thus far this year no deals beyond the health care sector have managed to price, according to Renaissance Capital. For the full article click here 



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