Barracuda Networks files for IPO of up to $100 million

Tue Oct 1, 2013 7:50pm EDT

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(Reuters) - Barracuda Networks, a security and data protection company, filed for an initial public offering of up to $100 million, according to a regulatory filing on Tuesday.

Founded in 2003, the Campbell, California-based Barracuda reported gross billings of $150.5 million for the six months ending August 31, according to the filing with the U.S. Securities and Exchange Commission.

Barracuda provides security products that protect against malicious content, viruses, and spam and counts Boeing Co (BA.N), International Business Machines Corp (IBM.N), Oracle Corp (ORCL.N) and Starbucks Corp (SBUX.O) among its customers.

Morgan Stanley (MS.N), JP Morgan Chase & Co (JPM.N) and Bank of America (BAC.N) are serving as some the company's underwriters.

Barracuda, which intends to apply to list common stock under the symbol "cuda," recently raised $130 million from investors Sequoia Capital and Francisco Partners.

Several security software companies have tapped the public markets in recent months including FireEye Inc (FEYE.O), whose shares climbed 80 percent in their trading debut on September 20.

Reuters reported in June that Barracuda was interviewing banks to lead an IPO later this year.

(Reporting by Jennifer Saba; Editing by Carol Bishopric)

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