Romanian cybersecurity firm Bitdefender hires JP Morgan, Morgan Stanley for US IPO

Romanian producer of IT security solutions Bitdefender has hired investment banks JP Morgan and Morgan Stanley to help launch an IPO in the US market, Profit.ro reported citing portal Unquote.

The IPO would consider a valuation of nearly $ 2 billion for the Romanian company, according to sources close to the operation cited by the daily Ziarul Financiar. The proceedings were said to have been launched last month.

The company has also decided that Bitdefender Free, one of the most popular free security solutions for Windows, will be discontinued for good as of December 31.

A successful list can result in a second Romanian unicorn after UiPath.

Previously, the investment fund Vitruvian Partners had bought a stake of around 30% of Bitdefender. The company was then valued at more than $ 600 million.

In the spring of 2019, Bitdefender appointed John Stynes, an Irish executive with nearly two decades of experience at listed technology companies, as CFO. At that time, the Romanian company was considering listing its shares on the Bucharest Stock Exchange (BVB).

Bitdefender is a global antivirus and computer security software company operating worldwide, providing cyber threat protection solutions to more than 500 million users in more than 170 countries. Founded in 2001 by Florin and Măriuca Talpeș, the company is headquartered in Bucharest and has offices in the United States, Canada, Australia, United Kingdom, France, Germany, Spain, Denmark, Italy , Sweden, the Netherlands and the United Arab Emirates.

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(Photo: Florin Talpes, co-founder of Bitdefender; photo source: Inquam Photos / George Calin)


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