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Mimecast files for IPO

By Reuters
US, 19 Oct 2015

E-mail security provider Mimecast on Friday filed for an initial public offering in the US, the latest cyber security firm looking to go public to capitalise on investor interest following a spate of hacker attacks.

Mimecast, whose customers include software maker NetSuite and advertising giant Omnicom Group, 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, JPMorgan Chase & Co and Anthem.

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

Mimecast said in September it was the victim of a cyber attack that prevented some US customers from accessing e-mail.

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

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

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