Security company Qualys files to go public


Cloud security company Qualys just filed for an initial public offering, joining Palo Alto Networks in security companies going public.

Qualys helps enterprise IT departments remain compliant with external regulations, and gives businesses applications to monitor and stop attacks. The company’s main product is a cloud-based, which has become an attractive means of deploying security software, as it easily updated and installed. The QualysGuard Cloud Platform allows businesses to watch for malware, and also scans applications for anything dangerous, and has a dashboard for organizing what vulnerabilities your company may have.

The company has 5,700 customers across the globe. The company made $76.2 million in revenue in 2011 and made $21.2 million in the first three months of 2012. Qualys has not yet chosen an exchange to offer its stocks on, but has decided on its ticker symbol, which will be “QLYS.”

Security company Palo Alto Networks, which has created a firewall, which can allow companies to monitor and block only certain parts of an application also filed to go public recently.

The tech industry has been wary of IPOs ever since Facebook went public in mid-May. Facebook’s IPO was delayed by technical difficulties by 30 minutes on the morning of May 18 and hasn’t fared well since. The company pulled partner Zynga’s stock 13 percent that day, forcing a halt on its trading. Indeed, travel website Kayak recently delayed its IPO so as to avoid the Facebook effect.

The company has listed a “limited history of profitability,’ inability to scale, the cloud security market, and a number of other risks related to investing in its business.

Security image via Shutterstock

Filed under: deals, security

via VentureBeat

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