Dell’s SecureWorks files for IPO

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.

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