Wednesday, July 18, 2012

Palo Alto Networks Increases IPO Pricing Estimates

Santa Clara-based Palo Alto Networks has increased its estimated IPO range, saying in a filing Tuesday that it now expects pricing at between $38.00 and $40.00 per share. The firm had initially estimated a pricing range of $34.00 to $37.00 per share. Palo Alto Networks is a developer of network security products. The firm is venture backed by Greylock Partners, Sequoia Partners, and Globespan.