Dell Inc. has filed confidentially for an IPO for its SecureWorks cybersecurity unit, TechCrunch has confirmed. The IPO is anticipated to happen before the end of the year.
First reported by the Wall Street Journal, SecureWorks could be valued at up to $2 billion. The report said that SecureWorks is working with Bank of America and Morgan Stanley to manage the IPO.
Dell acquired SecureWorks for $612 million in 2011 for its security software and consulting businesses, in an effort to expand beyond its computer hardware focus.
As part of the Jumpstart Our Business Act, companies with less than $1 billion in annual revenue are able to file confidentially for public offerings, revealing their financials just 21 days before the investor roadshow.
Dell was taken private in 2013 after being bought out for about $25 billion by Michael Dell and private equity firm, Silver Lake.
Texas-based Dell is also rumored to be in merger talks with EMC, the data storage company.