Barracuda Networks files for IPO

By IVCPOST Staff Reporter

Oct 01, 2013 11:55 PM EDT

Barracuda Networks was established in 2003 in Campbell, California and operates as a security and data protection company. The firm filed for an initial public offering valued more than USD100 million, said a regulatory filing on Tuesday. The California based company reported gross billings of USD150.5 million for the six months ended August 31. This was according to a filing with the US Securities and Exchange Commission, said a Reuters report.

Barracuda serves big companies including International Business Machines Corp, Oracle Corp, Boeing Co and Starbucks Corp. The company had been providing security products to its customers to safeguard them against viruses, spam and malicious content. Recently, Barracuda raised USd130 million from investors Sequoia Capital and Francisco Partners. The company intends to list its common stock under the trading symbol "cuda". 

Barracuda Networks had appointed Morgan Stanley, Bank of America and JP Morgan Chase & CO to serve as the underwriters for the IPO.  Reuters had reported last June that Barracuda was in the process of interviewing banks to lean an initial public offering for the company later this year.

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