Tenable inches towards IPO, finally
One of the best funded cybersecurity companies in the entire industry is reportedly on the precipice of finally going public. Columbia, Maryland-based Tenable Network Security has hired investment bank Morgan Stanley to help it file for an initial public offering (IPO), so that it can be traded on the New York Stock Exchange, according to Reuters. The move comes after rumors of a planned IPO for Tenable have circulated for at least two years, based on prior reporting by DC Inno. Tenable’s product portfolio largely focuses on endpoint detection software which helps organizations detect and analyze internet traffic at a granular level. The company’s competitors include other publicly-traded cybersecurity brands, like Boston-based Rapid7 and California-based Qualys. Over the last several years, publicly-traded cybersecurity companies have struggled to match trading estimates, having not performed financially on a reliable basis. But more recently, these same firms are recovering by posting respectable earnings […]
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