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  • Zuora's IPO may be a tough sell

    The subscription management software vendor has revealed its IPO paperwork, setting itself up to be the third enterprise-focused unicorn to make its way to Wall Street already in 2018. However, unlike the other two billion-dollar babies, Zuora may not find investors tripping over themselves to buy into the offering.

    Workforce Productivity & Compliance

  • Scaling to the stratosphere

    Shares of Zscaler soared in their debut on Wall Street as investors fervently bought into the company's vision of moving enterprise security from an organization's datacenter to the cloud. In its IPO, Zscaler priced shares above the expected range and then saw investors bid them up some 70%. That surge put its market cap at $3.7bn, or more than 20 times trailing revenue.

    Information Security

  • A Cold War in tech M&A

    The new version of the Cold War has put tech M&A activity between Russia and the US in a deep freeze. In a sign of how geopolitical sparring has chilled acquisitions, US companies haven't picked up a single tech vendor based in Russia since May 2016, roughly when US officials began investigating alleged 'meddling' in the presidential election that year by Russian hackers.

  • Overreaching officials

    A week after Broadcom blasted Qualcomm for its half-hearted M&A negotiations, calling them 'engagement theater,' the proposed deal has moved venues. It is now playing out in the theater of the absurd. A little-known group of unelected Washington DC regulators, who decide according to unknown criteria and enjoy essentially unchecked power, will now determine the fate of the technology industry's largest transaction. Market events, like M&A, shouldn't be decided that way.

  • Investors convulse, acquirers shrug

    The volatility that returned in dramatic fashion to the stock market in early February did very little to dampen activity in the tech M&A market. Buyers around the globe spent $29.2bn on tech acquisitions in the just-completed month, almost exactly matching the average monthly spending level from 2017. This 'buy the dip' mentality is a far more sanguine view of Wall Street upheaval than tech acquirers showed during the last correction two years ago.

  • PE 'breaches' record level in infosec

    Buyout shops are increasingly looking to secure returns by investing in security. Already this year, private equity acquirers - through both direct investments and purchases by their portfolio companies - account for an unprecedented one-third of all information security acquisitions. That's more than twice the infosec M&A 'market share' held by PE firms in the first half of the current decade.

    Information Security

  • Leave room to grow on Wall Street

    Nobody likes to buy at the top. And yet, as some startups look to step onto Wall Street, they are selling a stake in their company at a time when the business is about as good as it's going to get. The phenomenon is particularly pronounced in the fad-driven consumer tech market. Just ask Blue Apron shareholders. For a different story, talk to investors in SailPoint, which turned a profit and accelerated growth as it went public.

  • The next infosec IPO?

    After infosec startups accounted for one-quarter of enterprise-focused tech IPOs last year, the fast-growing sector is kicking off the action in 2018. Zscaler has revealed its paperwork ahead of an offering next month that could value the cloud security vendor in the neighborhood of $2.5bn. With its planned IPO, Zscaler is the first of a handful of infosec companies that could make their way to Wall Street this year. Which other infosec startups are in the IPO pipeline?

    Information Security

  • A sweetened bid to sour a deal

    Just two weeks after Broadcom put forward its 'best and final' bid for Qualcomm, the smaller chipmaker has effectively made its 'best and final' effort to escape Broadcom's unsolicited offer. After months of saying it wouldn't increase its original 2016 bid for NXP, Qualcomm relented and bumped up its offer. The move is sort of the inverse of the 'scorched earth' M&A tactic, since Broadcom initially said it wouldn't pursue Qualcomm if the company raised its bid for NXP.

    Systems & Software Infrastructure

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