Cloud security provider Qualys wants to raise up to $100 million in an initial public offering of its common stock.
The company provides a cloud computing based platform for companies to secure its IT infrastructure and is backed by chief executive Philippe Courtot, who owns about 40 percent of the company. Venture capital firm Trident Capital has a 27.4 percent stake.
The company has 5,700 organizations in 100 countries on its books and earned $21.2 million for the quarter ended March 31. This is a little more reasonable than the Facebook IPO, which means that the social notworking company was more of an abnormality rather than a trend towards over priced technology companies.
Qualys did not tell Reuters how many shares it will sell or their expected price.
The outfit is one of the new generation of companies which have been formed to make cash on the rise of the cloud.
While many companes who have been talking about the Cloud are the usual suspects, such as IBM, Oracle, HP and Microsoft, there have been a growing number of smaller speciality companies coming to the fore.