FireEye prices shares for its IPO
FireEye Inc, a cybersecurity company, had planned to accumulare as much as USD196 million from its IPO of its shares with a volume of 14 million. The IPO was expected to be priced between USD12 and USD14 per piece.
The cybersecurity firm is headed by David DeWalt, the former chief at McAfee. Their service provides protecton against malicious and destructive software viruses. The technology was deemed effective against malware that are able to bypass traditional anti-virus programs from McAfee and Symantec.
DeWalt resigned as president of McAfee back in 2011 after he oversaw the sale of the furm to Intel Corp amounting to USD7.7 billion. In an interview with Reuters, he intends to focus on the company's growth over profitability as well expand its sales and marketing staff to further drive expansion.
Aside from the IPO, the company had already raised USD100 million in funding from private equity investors such as Sequoia Capital, DAG Venture Equities, SVB Entities and Norwest Venture Partners.