Vector's SafeNet Files for $300M IPO

SafeNet, a portfolio company of Vector Capital since a $635 million LBO in 2007, has filed for a $300 million IPO with Morgan Stanley, Goldman Sachs and JP Morgan leading the underwriting. The provider of hardware and software security solutions intends to list on the NASDAQ under the symbol SAFE. Net proceeds from the offering will be used to pay off existing indebtedness and to pay Vector a fee as part of a termination of the company's management services agreement.