Reuters: Regulatory News: Cybersecurity firm FireEye IPO price range set at $12-$14/shr

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Cybersecurity firm FireEye IPO price range set at $12-$14/shr Sep 9th 2013, 12:08 Sept 9 | Mon Sep 9, 2013 8:08am EDT Sept 9 (Reuters) - Cybersecurity company FireEye Inc is set to raise as much as $196 million from its initial public offering of 14 million shares after it said the IPO was expected to be priced at $12-$14 apiece. The company, which is headed by former McAfee chief David DeWalt, helps businesses protect themselves against malicious software. DeWalt, who resigned as president of McAfee in 2011 after engineering its sale to Intel Corp for $7.7 billion, told Reuters in November he intended to focus on growth over profitability, and hire sales and marketing staff around the globe to drive that expansion. FireEye's technology is considered effective against malware that gets past traditional anti-virus programs sold by companies like Symantec Corp and McAfee. The company has raised some $100 million in venture funding from investors including Sequoia Capital, Norwest Venture Partners, DAG Venture Equities and SVB Entities. Seculert, an Israeli cybersecurity firm, also raised $10 million in financing from Sequoia Capital and Norwest Venture Partners in July, highlighting the interest of venture capital firms in these companies as business worldwide spend more on beefing up network security. Net proceeds from the offering would be used for working capital purposes, FireEye said in a filing with the U.S. Securities and Exchange Commission. () The company reported a net loss of $35.7 million on revenue of $83.3 million in 2012. Milpitas, California-based FireEye intends to list its shares on the Nasdaq under the symbol "FEYE." Morgan Stanley, Goldman Sachs, JP Morgan and Barclays will be the lead underwriters to the offering. Link this Share this Digg this Email Reprints

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