Dell's SecureWorks Plans IPO Amid Parent's $67 Billion EMC Dealby
SecureWorks Corp., the cybersecurity company owned by Dell Inc., is planning an initial public offering.
The company expects to sell its Class A common stock to the public and use the proceeds for working capital and other corporate purposes, according to a statement Wednesday. The number of shares and price range haven’t yet been determined, SecureWorks said.
The move comes after Dell agreed to buy EMC Corp. for about $67 billion in the largest technology acquisition ever. To complete the purchase, Dell will add almost $50 billion to its debt load, people familiar with the matter said last month, on top of the $11 billion it already is carrying.
Dell acquired SecureWorks in 2011, without disclosing the terms of the deal at the time. The Atlanta-based firm makes technology that detects cyber attacks and helps companies respond to potential threats.