While most companies wouldnt dare think about going public in todays hostile financial climate, the Sunnyvale, California-based companys reception on the market gives reason for optimism.
Network security is an area that has not only survived but seems to be prospering in the current doldrums. And with its fast, hardware-based firewall and VPN solutions, NetScreen has found its edge in the market.
"There are two areas where we see opportunity for IPOs right now: security and storage," says Harry Blount, senior storage research analyst at Lehman Brothers.
NetScreen, which makes a hardware-based security firewall to lock
down high-speed networks, may have reassured the market with its customer list and revenues. For the nine months leading up to June 30, NetScreen reported that its sales rose to $59.2 million, $49.5 of which was product-related, from $14.3 million during the same period in the prior year. Its customers include Cable and Wireless (NYSE: CWP), Cox Communications Inc. (NYSE: COX), and Williams Communications Group (NYSE: WCG).
At the same time as NetScreens revenues have grown, however, so have its losses. As of June 30, the company had an accumulated deficit of $84.3 million.
To realize the benefits of cloud-native software, an application must actually be cloud-native—designed to run in the cloud, interacting with disaggregated cloud services, fully manageable as code—to deliver the expected benefits.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
