Yubico, maker of the YubiKey security key, is preparing an IPO. The company hopes to continue to grow with the IPO. Before the IPO, the company will merge with ACQ Bure, a company that is now listed on the Nasdaq Stockholm stock exchange.
“We chose this path to achieve Yubico’s long-term growth and goals,” says Yubico’s CEO Mattias Danielsson. According to Danielsson, the company is now profitable and turnover is still growing. “The need for our technology and our position within the cybersecurity industry has also never been stronger.”
Before the IPO is completed, approval for the merger must still be given within general meetings of ACQ Bure and Yubico. Danielsson expects this merger to be completed in the third quarter, after which Yubico will be tradable on the Nasdaq Stockholm stock exchange.
The message does not say how much Yubico expects to raise from the merger or the IPO. Yubico was founded sixteen years ago and is known for its YubiKey authentication keys. ACQ Bure is a special purpose acquisition company, or SPAC, that was founded with the intention of acquiring a private company and taking it public.