Optiv Gears Up for IPO

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Optiv Inc. filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering. There were no pricing details given in the filing but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its shares on the NYSE under the symbol OPTV.

The underwriters for the offering are Morgan Stanley, Goldman Sachs, Barclays, Citigroup, Blackstone, Raymond James, William Blair, Evercore ISI, Guggenheim, and PJT Partners.

This is a market-leading provider of end-to-end cyber security solutions, ranked in the top 10% of solution providers by revenue, according to the CRN Solution Provider 500. The company exclusively focuses on cyber security and leverages its proprietary technologies, intellectual property, third-party products, market intelligence and scalable platform to provide comprehensive and optimized solutions to our clients.

Optiv has a team of over 1,700 employees that includes over 1,300 cyber security experts who plan, build and run cyber security programs tailored to clients’ needs. Through its strong partnerships with over 400 established and emerging security software providers and hardware manufacturers, Optiv offers clients a broad portfolio of cyber security products and services, along with strategic advice and ongoing management of their security infrastructure.

The broad portfolio of products and services available allows Optiv to be “vendor-agnostic,” in that it is free to select the products and services that it believes best meet clients’ needs, rather than being compelled to sell products developed internally or that are supplied by a limited pool of available vendors.

Formed through the merger of Accuvant and FishNet Security, Optiv believes that it is the largest pure-play, vendor-agnostic cyber security solutions provider in North America—more than five times larger than its next-largest comparable competitor based on 2014 revenue and the CRN Solution Provider 500 list. Over the past three years, its diversified, blue-chip client base has included 71 of the Fortune 100 and 604 of the Fortune 1000, and it has served over 7,500 clients in 76 countries.

The company intends to use the net proceeds from this offering to repay its indebtedness, with the remainder to be used for general corporate purposes.