Dell's cybersecurity unit SecureWorks files for IPO

Dell Inc’s cybersecurity unit SecureWorks Corp filed for an initial public offering with U.S. regulators. SecureWorks named Bank of America Merrill Lynch, Morgan Stanley, Goldman Sachs & Co and JPMorgan among the underwriters to the IPO, according to a preliminary prospectus filed with the U.S Securities and Exchange Commission. The Atlanta, Georgia-based company said it intends to list its Class A common stock on the Nasdaq under the symbol “SCWX.“The Wall Street Journal first reported in October that Dell, the third-largest personal computer maker, had filed confidentially for an initial public offering of the software and consulting firm acquired by Dell in 2011. SecureWorks could be worth as much as $2 billion, though the target valuation was not finalized, sources had told the Wall Street Journal. Dell agreed to buy data storage company EMC Corp for $67 billion in October to diversify from a stagnant consumer PC market and give it greater scale in the more profitable and faster-growing market for cloud-based data services. The filing did not reveal how many shares were planned for sale in the IPO or their expected price. The company set a nominal fundraising target of $100 million. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. Reuters