DUBLIN, April 12, 2016 /PRNewswire/ --
SecureWorks, the cybersecurity arm of Dell, has put $15.50 to $17.50 a share on its initial public offering, according to documents filed with the Securities and Exchange Commission on Monday. This means the American-based company could be valued at almost $1.5 billion.
The cyber security market has rapidly gained traction in recent years. Organizations are in dire need of solutions which could help them identify and respond to cyber threats. This requirement has arisen due to the increase in network connection, processing, and high dependency on the Internet. There is a growing number of companies in the market offering information security services. SecureWorks are one example of a company that provides corporations with an early warning system for identifying and preventing cyber threats.
It is a booming market, with a recent report predicting 12.13% growth during the period 2016-2020. Increased internet penetration and increased usage of mobile devices and applications have given rise to sophisticated cyber-attacks on IT business infrastructure, and this is becoming a major cause for concern for enterprises of all sizes. This is why the enterprise cyber security market is also forecast to grow at a rate of 11.84% by 2019.
According to reports, Dell has been targeting a valuation of $2 billion for SecureWorks. But its valuation expectations have declined because its rivals are trading down 20% or more.
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