JPMorgan, Deutsche Bank AG, and Barclays Plc are underwriting the CyberArk IPO.
CyberArk, which counts global companies including Barclays and Pfizer Inc. among its clients, declined to comment on the IPO, citing a regulatory quiet period. Brian Marchiony, a spokesman for JPMorgan in New York, and Mark Lane of Barclays also declined to comment.
JPMorgan, which vowed earlier this year to spend a quarter-billion dollars on cyber-security annually, has rushed to determine the scope of a network assault that was reported on Aug. 27 and restore confidence in security at the biggest U.S. lender.
Corporate spending on advanced security threats will grow at a 42 percent compound annual rate to $1.4 billion by 2018, adding to a $34 billion security market worldwide, according to Bloomberg Intelligence data.
The growth of cloud computing, which lets companies store, process, and deliver computing data via the Internet, and the migration of data from desktop computers to mobile phones has intensified the need for companies to upgrade data security, according to Ives.
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