"Netskope has announced plans for an IPO in the United States. The Santa Clara-based company hopes to raise up to $813 million (€693 million) with a valuation of up to $6.5 billion. Netskope's IPO comes at a time when US stock markets are recovering from a dip in April. That decline was caused by market volatility surrounding trade tariffs. Signs of progress in trade talks and demand for new listings have since restored confidence in the market."
"Founded in 2012, the company focuses on the SASE (Secure Access Service Edge) market. According to research by Gartner, this market is expected to grow from $7 billion in 2022 to $25 billion in 2027. The increase in sophisticated cyberattacks and the rapid shift to cloud platforms have heightened fears of data breaches and operational disruptions. These developments are driving investor interest in AI-powered cybersecurity companies that promise better defenses."
"Netskope plans to issue 47.8 million shares at a price between $15 and $17 each. Morgan Stanley and J.P. Morgan are acting as lead underwriters for the offering. The company will list on the Nasdaq under the symbol "NTSK." Netskope competes with larger players such as Palo Alto Networks and Zscaler. The company's customer base ranges from medium-sized companies to large enterprise organizations, including chip designer Qualcomm and Canadian bank BMO."
Netskope, a Santa Clara-based cloud security company, filed for a US IPO aiming to raise up to $813 million at a valuation up to $6.5 billion. The company will offer 47.8 million shares priced between $15 and $17, listing on Nasdaq under the symbol NTSK with Morgan Stanley and J.P. Morgan as lead underwriters. Netskope focuses on the SASE market, which Gartner projects to grow from $7 billion in 2022 to $25 billion in 2027. Rising sophisticated cyberattacks and cloud migration are increasing demand for AI-powered cybersecurity. Netskope competes with Palo Alto Networks and Zscaler and counts customers including Qualcomm and BMO. Netskope was valued at $7.5 billion in 2021.
Read at Techzine Global
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