Monday, April 11, 2016

Dell SecureWorks Sets IPO

SecureWorks, a provider of information-security services based in Atlanta, announced its initial public offering of 9,000,000 shares of its Class A common stock. The initial public offering price is expected to be between $15.50 and $17.50 per share.

SecureWorks will trade on the NASDAQ Global Select Market under the symbol “SCWX.”

Some background notes on the company:

  • Dell acquired SecureWorks in 2011.
  • Claims 4,200 clients worldwide.
  • Generates revenue from managed security and threat intelligence solutions through subscription-based arrangements, as well as revenue from security and risk consulting engagements through fixed-price or retainer-based contracts. 
  • Total revenue was $339.5 million in fiscal 2016, $262.1 million in fiscal 2015 and $205.8 million in fiscal 2014, for annual growth of 30% and 27%, respectively. 
  • Incurred net losses of $72.4 million in fiscal 2016, $38.5 million in fiscal 2015 and $44.5 million in fiscal 2014. 
  • Headed by Michael R. Cote
  • Total of 2,47 employees

http://www.secureworks.com

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