Cloud-based IT, security, and compliance solutions provider Qualys is considering options including a potential sale after attracting takeover interest from potential buyers, Bloomberg reported.
The cybersecurity company is said to be engaging with financial advisers to navigate its possible next steps, the news publication added citing people familiar with the matter.
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The company’s market valuation is said to be approximately $6bn currently.
The deliberations regarding a sale of the company are said to be still in the preliminary phase and it may ultimately choose not to pursue this route.
Qualys declined to comment on the matter.
Headquartered in Foster City, California, Qualys specialises in IT security services and compliance management software.
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By GlobalDataIn August 2024 The firm had reduced its full-year revenue forecast.
For the third quarter of 2024, Qualys reported a revenue increase of 8% year-over-year, reaching $153.9m.
However, its net income on a US generally accepted accounting principles (GAAP) basis saw a slight decrease of 1% to $46.2m compared to the previous year.
The non-GAAP net income for the quarter stood at $58.0m.
Additionally, Qualys has raised its revenue guidance for 2024 to between $602.9m and $605.9m and its GAAP EPS guidance to between $4.31 and $4.41.
Commenting on the Q3 2024 results, Qualys president and CEO Sumedh Thakar had said: “Q3 was another strong quarter of rapid innovation for Qualys, reflecting our ongoing commitment to technology leadership, cybersecurity transformation, and successful outcomes for customers.
“With the release of several new capabilities, including our Enterprise TruRisk Management solution, TruRisk Eliminate, and Qualys TotalAI we have further strengthened our strategic position as the partner of choice for customers looking to rearchitect and consolidate their security tools to solve modern security challenges while simplifying their operational defences. We believe we can continue to grow long-term, maintain best-in-class profitability, and invest in key initiatives aimed at further extending the gap between Qualys and the competition.”
