Cybersecurity company Qualys is reportedly considering a sale
IT-based provider of IT, security and compliance solutions Qualys is considering options including a potential sale after attracting interest in the stock from potential buyers, Bloomberg reports.
The cybersecurity company is said to be working with financial advisers on its next steps, the news outlet added, citing people familiar with the matter.
The company’s market value is said to be around $6bn currently.
Discussions regarding the sale of the company are said to be at an early stage and may ultimately choose not to pursue this path.
Qualys declined to comment on the matter.
Qualys is based in Foster City, California, and specializes in IT security services and compliance management software.
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By GlobalData
In August 2024 the firm had lowered its full-year revenue outlook.
For the third quarter of 2024, Qualys reported an 8% annual revenue increase, reaching $153.9m.
However, its gross income on a US generally accepted principles (GAAP) basis saw a slight decrease of 1% to $46.2m compared to the previous year.
Non-GAAP net income for the quarter stood at $58.0m.
In addition, Qualys raised its revenue guidance for 2024 from $602.9m and $605.9m and its GAAP EPS guidance to between $4.31 and $4.41.
Commenting on the Q3 2024 results, Qualys president and CEO Sumedh Thakar said: “Q3 was another strong quarter of rapid innovation for Qualys, demonstrating our continued commitment to technology leadership, cybersecurity innovation, and successful outcomes for clients.
“With the release of several new technologies, including our Enterprise TruRisk Management solution, TruRisk Eliminate, and Qualys TotalAI we have strengthened our strategic position as the partner of choice for clients looking to rebuild and consolidate their security tools to solve modern security problems. We believe that we can continue to grow in the long term, to maintain high profitability at its best, and investing in key projects aimed at widening the gap between Qualys and the competition.”
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