You can be on Entrepreneur’s cover!

Dell's Cyber Security Unit Secureworks Valued at Up to $1.42 Billion in IPO SecureWorks joins several firms looking to tap the capital markets as investor interest in them grows after a spate of cyber attacks on big companies including banks and retailers.

By Reuters

entrepreneur daily

This story originally appeared on Reuters

Reuters | Bazuki Muhammad | Files

Dell Inc.'s cyber security unit, SecureWorks Corp, said its initial public offering was expected to be priced at $15.50 to $17.50 per share, valuing the company at up to $1.42 billion.

The Atlanta, Ga.-based company said on Monday that its offering of 9 million class A shares could raise as much as $157.5 million.

The Wall Street Journal first reported in October that Dell, the third-largest personal computer maker, had filed confidentially for listing SecureWorks, which it bought for $612 million in 2011.

Founded in 1999, SecureWorks has 4,200 clients in 59 countries.

The company said it planned to list its class A common stock on the Nasdaq under the symbol "SCWX."

SecureWorks joins several cyber security firms looking to tap the capital markets as investor interest in them grows after a spate of cyber attacks on big companies including banks and retailers.

Rapid7 Inc. and Mimecast Ltd. had successful listings last year, but their share prices have slipped below the IPO price since then.

Bank of America Merrill Lynch, Morgan Stanley, Goldman Sachs & Co. and JP Morgan are among the underwriters for SecureWorks' IPO.

(Reporting by Sruthi Shankar and Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Side Hustle

I Started a Semi-Passive Side Hustle That Earns $33,000 a Week on Amazon: 'Selling There Is a No-Brainer'

Dr. Jenny Woo wanted to create a product that would help people connect, and it turned out to be a lucrative one.

Business News

This Highly-Debated Piece of Cinematic History Just Sold For Over $700,000 at Auction

The wood panel from "Titanic" is often mistaken as a door. Either way, he couldn't have fit. (Sorry.)

Business News

From Tom Brady to Kevin O'Leary – See Who Lost Big in the Wake of the FTX Crypto Collapse

The crash exposed an $8 billion hole in FTX's accounts, leaving investors and customers scrambling to recoup their funds.