Dell's cybersecurity unit SecureWorks files for IPO
(Reuters) - Dell Inc's cybersecurity unit SecureWorks Corp filed for an initial public offering with U.S. regulators on Thursday.
SecureWorks named Bank of America Merrill Lynch, Morgan Stanley, Goldman Sachs & Co and JPMorgan among the underwriters to the IPO, according to a preliminary prospectus filed with the U.S Securities and Exchange Commission. (http://bit.ly/1QssM8J)
The Atlanta, Georgia-based company said it intends to list its Class A common stock on the Nasdaq under the symbol "SCWX."
The Wall Street Journal first reported in October that Dell, the third-largest personal computer maker, had filed confidentially for an initial public offering of the software and consulting firm acquired by Dell in 2011. (http://on.wsj.com/1QsvfjC)
SecureWorks could be worth as much as $2 billion, though the target valuation was not finalized, sources had told the Wall Street Journal.
Dell agreed to buy data storage company EMC Corp for $67 billion in October to diversify from a stagnant consumer PC market and give it greater scale in the more profitable and faster-growing market for cloud-based data services.
The filing did not reveal how many shares were planned for sale in the IPO or their expected price. The company set a nominal fundraising target of $100 million.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting By Arathy S Nair in Bengaluru; Editing by Savio D'Souza and Lisa Shumaker)
