FireEye Inc., an IT security vendor, submitted its S-1 filing with the Security and Exchange Commission setting out to raise as much as $175 million in its public offering, though the number of shares to be sold and the price range for the proposed offering have not yet been determined.

FireEye was founded in 2004 and it provides automated threat forensics and dynamic malware protection against advanced cyber threats, such as advanced persistent threats and spear phishing.  It’s most popular product is the Malware Protection System for web security, email security, file security, and malware analysis which are boxes that can supplement firewalls in a network.

Its top customers include D-Wave Systems, NetApp, Sallie Mae, University of California, Berkeley, and the U.S. Department of Defense.

SiliconANGLE Contributing Editor John Casaretto describes FireEye as a unique security solutions provider since it is able to solve pretty hard security problems such as being able to detect different kinds of hacker attacks that have been traditionally hard to stop such as Zero Day attack that recently happened to Freedom Hosting and advanced persistent threats.

Right time to go public?

FireEye’s IPO may have been perfectly timed, since people are quite paranoid about security because of the recent NSAgate revelations, as well as the FBI attack that used malware to de-anonymize visitors of sites hosted by Freedom Hosting.

“Security is one of the hottest sectors right now in Silicon Valley.  There are a lot of things going on – hacking and cyber attacks are becoming quite regular in the news cycle.  There’s a lot of that are looking for data protection that they’re looking for this to be better for protecting their infrastructure.  These reports just keep coming and the money for security products keeps flowing,” explained SiliconANGLE Contributing Editor John Casaretto as to the possible reason to FireEye’s IPO.

During an appearance on this morning’s Live NewsDesk Show with Kristin Feledy, Casaretto noted not everyone is willing to spend on a security service, but with all the recent issues faced by the industry when it comes to security, FireEye could benefit from this greatly.  Also, he remains positive that the market will remain strong for security companies as more people rely on the internet for pretty much anything.

For more of Casaretto’s Breaking Analysis, check out the NewsDesk video below: