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Netskope Targets $6.5 Billion Valuation in Upcoming U.S. IPO

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Netskope, a cloud-based cybersecurity company, announced plans to raise up to $813 million in its U.S. initial public offering, aiming for a valuation of up to $6.5 billion. The IPO comes amid a rebound in listings after April’s tariff-driven market slump.

The Santa Clara-based firm will sell 47.8 million shares priced between $15 and $17 each, listing on the Nasdaq under the ticker “NTSK”.

Founded in 2012, Netskope provides cloud security solutions that protect apps, websites, and data from cyber threats. The company operates in the secure access service edge (SASE) market, competing with heavyweights like Palo Alto Networks and Zscaler. Gartner projects the SASE sector will grow from $7B in 2022 to $25B by 2027, reflecting rising demand for AI-powered cybersecurity amid more sophisticated attacks and the cloud shift.

Netskope’s client base includes Qualcomm and BMO, spanning mid-sized firms to global enterprises. Its last funding round in 2021, led by ICONIQ, Sequoia, and Accel, valued the firm at $7.5B.

The IPO follows rival Rubrik’s 2023 debut, whose shares have more than doubled since going public, underscoring investor appetite for cybersecurity plays.

Morgan Stanley and J.P. Morgan are lead underwriters.

Olidata Targets Italian M&A Deals to Build Scale, Chairman Says

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Olidata (OLI.MI), the Italian IT and cybersecurity group, is preparing to expand through mergers and acquisitions, with a potential deal likely before the end of the year, Chairman and main shareholder Cristiano Rufini told Reuters.

Rufini said the focus will remain on the Italian market, where small but innovative tech firms risk losing ground without consolidation. “In Italy, we have some very good, high-performing centres of excellence, but they are very small. If we don’t manage to build significant critical mass, some valuable technologies and solutions risk being lost,” he explained at the TEHA Forum in Cernobbio.

Since returning as chairman in April, Rufini has steered Olidata toward growth in digital healthcare and proprietary cybersecurity technologies. The company reported €96.7 million in revenue and €5.9 million in adjusted EBITDA last year.

Despite being relisted in 2023, Olidata’s share price has been volatile—currently around €2.8 with a €53 million market cap, well below its September 2023 peak of €8.65. Rufini attributed the swings to the stock’s structure, dominated by retail investors holding 32% of capital and the absence of institutional backers.

His goal: build a stronger governance framework, attract institutional investors, and position Olidata as a solid, growth-driven technology player in Italy’s digital economy.

U.S. Investigates Malware Email Linked to China Targeting Trade Talks

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U.S. authorities are probing a malware-laden email disguised as coming from Republican Representative John Moolenaar, aimed at infiltrating organizations connected to U.S.-China trade negotiations, the Wall Street Journal reported Sunday.

The July email was sent to trade groups, law firms, and government agencies, asking recipients to review draft legislation. Cyber analysts traced the malware to APT41, a hacking group widely believed to be linked to Chinese intelligence. Opening the attachment would have given hackers deep access to the targets’ systems.

Moolenaar, a vocal critic of Beijing and chair of a congressional committee on U.S.-China competition, said the incident was “another example of Chinese cyber operations aimed at stealing U.S. strategy,” adding: “We will not be intimidated.”

The attack coincided with sensitive trade talks in Sweden, which temporarily extended a tariff truce between Donald Trump and Xi Jinping until their expected November meeting at an Asian economic summit.

The Chinese embassy in Washington denied knowledge of the incident, stressing opposition to all cyberattacks while warning against “smearing others without solid evidence.”

The FBI confirmed it is working with partners to track those responsible. Meanwhile, the Capitol Police are investigating after staff on Moolenaar’s committee noticed unusual inquiries about the fake message.

The episode adds to mounting evidence of Beijing-linked cyber campaigns targeting U.S. institutions to gain insight into trade and national security deliberations.