Computer company Dell’s
SecureWorks is heading to the stock market next year. Dell, which has headquarters in Round Rock, Texas, United States, is a global brand associated with computer hardware. Over recent years the company has switched its attention to the cloud. SecureWorks is billed as a “leader in Information Security that provides network security and managed security services to enterprises to reduce security costs”. SecureWorks could begin trading by the end of next year and by then be worth around $2 billion. An application for the IPO was submitted to the Securities and Exchange Commission (SEC) last week.
SecureWorks cost Dell $612 million in 2011 and it was acquired as part of Dell’s strategy to transition into an enterprise IT solutions and services provider and to strengthen its security capabilities. The IPO is intended to advance the company’s restructuring and generate funds to allow the company to complete its $67 billion purchase of EMC. Dell suggested the IPO could generate $100 million for the company.
Dells filing suggested that SecureWorks’ revenue growth was 19% in 2014, and 27% in 2015 increasing its revenue to $262.1 million. "Our solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond rapidly to security breaches and predict emerging threats," suggests the filing. "The solutions leverage our proprietary technologies, processes and extensive expertise in the information security industry which we have developed over 16 years of operations."
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