Cloud Security company Qualys is up 18 percent in after hours trading. The company debuted on the NASDAQ today, with a slow start ending in an 11 percent climb.
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Qualys creates security software that protects “the cloud,” or the vast amount of content and applications people use and store on the Internet today. Specifically, the company deals with enterprises that need to control thousands of employees’ devices and online activities. It watches over and provides analysis on application use, like Dropbox and Facebook; device use; and ensures that employees all follow the company’s IT policies.
Qualys offered 7,575,000 shares of its common stock and priced them last night at $12 a share. The stock can be found on the NASDAQ under the ticker symbol QLYS. It closed up at $14.36 a share today.
It follows firewall security company Palo Alto Networks’ IPO in July as the most recent security company to go public. Palo Alto Networks jumped as high as 31 percent on its opening day.
Qualys’ IPO, along with Palo Alto Networks, shows the growing need for companies that specialize in protecting the cloud. It’s becoming almost impossible to tell employees they can’t use smartphones or applications. They are becoming tools in their own right that help employees stay productive. If you can’t beat them, join them, and protect them with your own company policies.
Image via Qualys