Dell files IPO for Cybersecurity Unit
Dell Inc. has filed confidentially for an IPO for its SecureWorks cybersecurity unit. The IPO is anticipated to happen before the end of the year.
SecureWorks could be valued at up to $2 billion. The report stated that SecureWorks is working with Bank of America and Morgan Stanley to manage the IPO.
Dell acquired SecureWorks for $612 million in 2011 for its security software and consulting businesses, in an effort to expand beyond its computer hardware focus.
As part of the Jumpstart Our Business Act, companies with less than $1 billion in annual revenue are able to file confidentially for public offerings, revealing their financials just 21 days before the investor roadshow.
Texas-based Dell is also rumored to be in merger talks with EMC, the data storage company.
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