Data security company Imperva Inc. hopes to raise $70-100 million in an IPO on Nasdaq at a company value of $300-400 million. The IPO is planned for early 2011.
Sources inform "Globes" that the company recently began talks with US investment bankers and is currently seeking a lead underwriter.
Imperva was founded in 2002 by president and CEO Shlomo Kramer together with CTO Amichai Shulman, Mickey Boodaei and Yoav Itzikovich. Kramer founded veteran IT security company Check Point Software Technologies Ltd. (Nasdaq: CHKP) along with Gil Shwed and Marcus Nacht before leaving at the end of 1998 following a professional disagreement with Shwed. Over the years, Kramer has sold his Check Point shares for hundreds of millions of dollars.
Kramer is a major investor in Israeli high-tech start-ups and his investments include Confidela, WorkLight, Trusteer and Secure Islands Technologies.
Imperva's investors will be more than satisfied if the Nasdaq IPO is realized. Imperva has raised $54 million to date from Greylock Partners, Accel partners, Venrock Associates, US Venture Partners and Meritech Capital Partners.
With 280 employees worldwide and its development center in Tel Aviv, Imperva develops and markets database and application security, reporting and audit solutions for organizations worldwide.
Published by Globes, Israel business news - www.globes-online.com - on September 13, 2010
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