Sourcefire Fires Up for IPO

Open-source security specialist Sourcefire is set to go public tomorrow and is expected to raise over $75 million.

A source with knowledge of the deal says that Sourcefire will IPO on Friday priced at $13 per share. According to a recent SEC filing, Sourcefire will trade under the symbol "FIRE", offering 5,770,000 shares priced at between $12 and $14.

At least one Wall Street analyst thinks the vendor is likely to top these figures in trading tomorrow. "I would not be surprised if it were higher than $13 per share," says John Fitzgibbon of IPO Scoop. "I have heard that it is over-subscribed."

Sourcefire is the latest in a string of technology firms to go public in recent months, although most of these have been in the storage space. (See Opnext IPO Has Lots of Bandwidth, Mellanox Exceeds IPO Hopes, VMware to Spin Out, and The Slings & Arrows of IPOs.)

Get the complete details at Dark Reading.James Rogers, Senior Editor, Byte and Switch