Varonis Systems, which provides a software platform that allows enterprises to map, analyze, manage and migrate their unstructured data, announced terms for its IPO on Tuesday. The New York, NY-based company plans to raise $86 million by offering 4.8 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Varonis Systems would command a fully diluted market value of $476 million.
Varonis Systems, which was founded in 2004 and booked $75 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol VRNS. The company initially filed confidentially on August 21, 2013. Morgan Stanley, Barclays, Jefferies and RBC Capital Markets are the joint bookrunners on the deal.
