Dell's SecureWorks Plans IPO as Private Equity Firms Circle Other Assets (EMC)

SecureWorks Corp. announced that it plans to conduct a registered initial public offering of its Class A common stock.

Notably, the company is a U.S. subsidiary of PC giant Dell.

Today's press release read: Subject to market and other conditions, the offering is expected to commence after the Securities and Exchange Commission completes the review process previously initiated by the confidential submission by SecureWorks of its registration statement on Form S-1 relating to the proposed offering.

News comes following reports late Tuesday that Dell was planning to divest certain assets and that KKR & Co LP (NYSE: KKR), Thoma Bravo, and Vista Equity Partners Management might be in competition for the assets.

Assets expected to be sold include Quest Software, SonicWall, and Perot Systems.

Proceeds from the sales will help Dell cut the expected $49.5 billion of debt it will incur with its acquisition of EMC (NYSE: EMC).

For more color on the matter, click here.

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