Data management and storage specialist Cohesity announces a ‘confidential’ IPO to the SEC. The exact date of the IPO and price per share are unknown at this time.
It’s been in the air for some time. Now, Cohesity is taking the first definitive steps toward an IPO. The company recently filed a so-called ‘confidential’ application for an IPO with SEC, the U.S. securities regulator.
Share price still unknown
In the application, no details are given on the number of shares and price per share to be offered. Cohesity is expected to raise between 4.4 billion euros (5 billion dollars) and 8.9 billion euros (10 billion dollars). This is well above the market value of 3.2 billion euros ($3.7 billion) at which Cohesity is currently valued. The IPO will probably take place next year.
Growth in activities
In recent years, Cohesity has been gaining ground with a varied range of services. In addition to its Helios platform for data management in various on-premises, edge and (multi-cloud) environments, the specialist offers more and more products for data security. The portfolio is gradually expanding, including services for protection against ransomware attacks. Furthermore, Cohesity is committed to offering the entire portfolio as SaaS.