Snyk Ltd, a cybersecurity start-up which was valued at $8.5 billion in a funding round last year, has hired banks including Morgan Stanley and Goldman Sachs Group Inc in preparations for a U.S. initial public offering , according to people familiar with the matter.
Snyk and Goldman Sachs did not immediately respond to requests for comment. Morgan Stanley declined to comment. Dealmaking in the sector, as a result, has also witnessed a big jump. Last year, McAfee Corp struck a US$14 billion deal to be taken private. Earlier this year, Reuters reported that buyout firm KKR & Co is exploring a sale or an initial public offering for Optiv Security, a US cybersecurity solutions distributor and consultant it controls at a valuation of more than US$3 billion, including debt.
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