Sophos Wants To Raise £65m With London IPO

Security vendor Sophos is looking to raise £65 million with a float on the London Stock Exchange, targeting a total value of £1 billion.

If it goes ahead, the flotation will one of the biggest in UK tech history and will help the 30-year-old firm shake off some of its debt.

Previous attempts

The company has unsuccessfully attempted to float on the stock market on several occasions. Plans were scuppered once in 2007 due to the financial crisis, and once again in 2009 where the firm instead decided to sell a majority stake to Apax.

Sophos reported sales of $476 million (£310m) for its financial year ending March, a 22 percent boost from the previous year.

Net debt was at $318 million (£208m) at the end of April. The firm thinks it should be targeting small and medium businesses with its security products, differentiating itself from rivals such as McAfee.

Take our hacking and viruses quiz here!

Ben Sullivan

Ben covers web and technology giants such as Google, Amazon, and Microsoft and their impact on the cloud computing industry, whilst also writing about data centre players and their increasing importance in Europe. He also covers future technologies such as drones, aerospace, science, and the effect of technology on the environment.

Recent Posts

OpenAI In Talks With California Over For-Profit Shift

OpenAI reportedly begins early talks with California attorney general over complex transition from nonprofit to…

44 mins ago

EU To Assess Apple’s iPad Compliance Plans

European Commission says it will review Apple's iPad compliance with DMA rules as it seeks…

1 hour ago

James Dyson Says ‘Spiteful’ Budget Will Kill Start-Ups

James Dyson delivers most high-profile criticism so far of Labour's first Budget that raises £40bn…

2 hours ago

Nvidia, Meta Ask Supreme Court To Axe Investor Lawsuits

Nvidia, Meta bring cases before US Supreme Court this month seeking tighter limits on investors'…

2 hours ago

Nvidia To Replace Intel On Dow Jones Industrial Average

Nvidia to replace Intel this week on Dow Jones Industrial Average after years of turmoil…

3 hours ago

Toyota-Backed Joby Flies ‘Air Taxi’ In Japan

Joby Aviation and Toyota Motor complete demonstration flight in Shizuoka as companies prepare to bring…

3 hours ago