FireEye to go public

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FireEye to go public

Plans initial public offering to raise $175 million.

Network security company FireEye has announced plans to file for an initial public offering to raise up to $175 million in stock.

The Milpitas, Calif.-based firm, founded in 2004, expects to trade under "FEYE," but has not selected an exchange, it announced Friday.

The company, whose revenue has risen from $11.8 million in 2010 to $83.3 million last year, makes technology to defend against advanced malware attacks. Its net losses have risen during that time, but to a much lesser percentage extent, from $9.5 million to $35.8 million, respectively.

Dave DeWalt, former CEO of McAfee, began serving as FireEye's CEO toward the end of last year.

This article originally appeared at scmagazineus.com

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