October 5, 2020 | software | No Comments
Intrusion, which provides a family of software products for enterprise security, announced terms for its IPO on Monday.
The Richardson, TX-based company plans to raise $44 million by offering 3.1 million shares (35% insider) at $14.32, the last close of its shares on the OTCQB (INTZ). At the proposed price, Intrusion would command a market value of $242 million.
Intrusion develops, markets, and supports a family of entity identification, high speed data mining, cybercrime and advanced persistent threat detection products. Its end-user customers include US federal government entities, state and local government entities, large and diverse conglomerates, and manufacturing entities, among others. Its product families include TraceCop, a database of worldwide IP addresses, registrant information, and their associations; Savant, a high speed network data mining and analysis hardware and software product; and Shield, which is currently in development to be a next generation intrusion detection and protection solution.
Intrusion was founded in 1983 and booked $10 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol INTZ. B. Riley FBR is sole bookrunner on the deal. It is expected to price during the week of October 5, 2020.
The article Enterprise security software provider Intrusion sets terms for $44 million Nasdaq uplisting originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.
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