Data security firm Varonis Systems raises IPO to $22/share-Reuters

(Reuters) – Data security firm Varonis Systems Inc expects its initial public offering of about 4.8 million shares on Friday to fetch $22 per share and raise $105.6 million, above its previous estimate of $19 to $21 per share.

The IPO price values New York-based Varonis Systems at about $524.4 million, as the company will have 23.8 million shares outstanding after completion of the offering. All the shares in the IPO are being sold by the company.

As recently as Feb. 18, the company priced its IPO at $17 to $19 per share.

Founded in 2005, Varonis helps organizations manage and analyze their unstructured data, like documents, spreadsheets and media files.

The company has raised funding from investors including Accel Partners, Evergreen Venture Partners, Gitano Venture Capital and EMC Corp.

Morgan Stanley & Co LLC and Barclays Capital Inc are lead underwriters to the offering.

Related Posts

Leave a Reply

PEHUB Community

Join the 12502 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget