Dell's SecureWorks files for IPO
The company intends to list its Class A common stock on the NASDAQ under the stock ticker SCWX.
The Atlanta-based SecureWorks, a cybersecurity business unit of Dell, put in the paperwork with the U.S Securities and Exchange Commission on Thursday to initiate an IPO.
SecureWorks is a managed security service that offers subscribers intelligence-driven information security solutions to protect against cyberattacks.
According to its preliminary prospectus, the company intends to list its Class A common stock on the NASDAQ under the stock ticker SCWX.
The Wall Street Journal reported in October that SecureWorks could be worth as much as $2 billion, although valuation was not finalized. In the first nine months of its fiscal 2015, the company earned $245 million in revenue, up from $191 million in the same period last year.
It's been reported that Dell is unloading some business assets in order to raise money to purchase business technology giant EMC for $67 billion.
It is unknown at this point how many shares will be made available in the IPO or what the price will be, the company said.
Dell purchased SecureWorks in 2011 for $612 million. The unit has more than 2,400 employees and 4,100 customers in 61 countries, including Bank of America.Dell CEO Michael Dell owns nearly three-quarters of the company.