Email security provider Mimecast files for U.S. IPO

Reuters News
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Posted: Oct 16, 2015 12:24 PM

(Reuters) - Email security provider Mimecast Ltd on Friday filed for an initial public offering in the United States, the latest cybersecurity firm looking to go public to capitalize on investor interest following a spate of hacker attacks.

Mimecast, whose customers include software maker NetSuite Inc and advertising giant Omnicom Group Inc, said it plans to list its shares on the Nasdaq under the symbol "MIME".

Goldman Sachs, Barclays, Jefferies, RBC Capital Markets and Oppenheimer & Co are underwriting the IPO, the company said in a filing with the Securities and Exchange Commission.

Businesses are spending more to secure their computer networks following a string of high-profile data breaches at Sony Corp, JPMorgan Chase & Co and Anthem Inc.

Shares of Rapid7 Inc, which helps businesses assess and monitor security risks, opened at $26.75, above the IPO price of $16 per share, in their debut on July 17.

Mimecast said in September it was the victim of a cyber attack that prevented some U.S. customers from accessing email.

The company has 10,000 customers and rivals include Proofpoint Inc and Symantec Corp.

Mimecast's investors include Insight Venture Partners, Dawn Capital and Index Ventures.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)