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Management & Strategy

Imperva Stock Jumps in IPO

Shares of Imperva (NYSE:IMPV) jumped nearly 40 percent today as the data security firm made its debut as a public company, opening at $23 a share and topping $25 during trading.

Shares of Imperva (NYSE:IMPV) jumped nearly 40 percent today as the data security firm made its debut as a public company, opening at $23 a share and topping $25 during trading.

Imperva IPOThe company raised approximately $90 million through offering 5 million shares at $18 on the NYSE, netting just over $85 million. The company originally planned to price the IPO between $14 and $16 but decided to price shares higher. Redwood Shores, California based Imperva has yet to turn a profit, but is experiencing rapid growth and demand for its products.

The company provides data security solutions for businesses and claims over 1,500 end-user customers and thousands of organizations as customers.

Imperva sells its products and services mainly through a network of over 350 channel partners. The company generated net revenue of $55.4 million in 2010, and generated net revenue of $55.0 million in the nine months ended September 30, 2011, an increase of 43.2%.

The company has been funded by Accel Partners, Meritech Capital Partners, Greylock Partners, U.S. Venture Partners, and Venrock Associates.

J.P. Morgan Securities and Deutsche Bank Securities acted as joint book-running managers for the offering. RBC Capital Markets, Lazard Capital Markets and Pacific Crest Securities acted as co-managers.

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Written By

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

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