SoftBank-Backed Cohesity Files Confidentially for IPO

(Bloomberg) -- Cohesity Inc., a data-management software company backed by SoftBank Vision Fund, has filed confidentially for an initial public offering in the U.S. 

The IPO will take place after the Securities and Exchange Commission completes its review, according to a statement Tuesday that confirmed a Bloomberg News report. 

Cohesity is working with JPMorgan Chase & Co. and Morgan Stanley and seeking to be valued at $5 billion to $10 billion in an IPO next year, people familiar with the matter said last week. Bank of America Corp. is also advising, one person said. 

Cohesity, whose clients include Cisco Systems Inc. and NASA, provides data management services. The San Jose, California-based company says its products can simplify backup and recovery and defend against cybersecurity threats. Cohesity said in March that it was valued in an investment at $3.7 billion, up from $2.5 billion the previous year.

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