With cyber security increasingly gaining prominence in the wake of growing threats from Chinese and Russian hackers, a separate listing for Forcepoint has potential.
In an interview published on Sunday, German business daily Boersenzeitung reported, Raytheon could potentially come out with an IPO for its cyber security unit.
“Raytheon has undertaken that Forcepoint will achieve for civilian cyber defense what Raytheon does for the defense of nation states, and we think that we could unleash enormous potential in our company via a stock exchange listing,” said Matthew Moynahan.
Moynahan however added, it was too early in the game to contemplate such a move.
In 2015, the U.S. missile manufacturer bought an 80% stake in Forcepoint, then known as Websense, from private equity firm Vista for $1.9 billion it then merged it with its own cybersecurity operations.
The remaining 20% is owned by Vista, which retains the right to exit the joint venture, including by requiring Raytheon to buy its 20% stake or when Forcepoint’s pursues an IPO.
In 2016, Forcepoint’s turnover was $566 million and it posted an operating income of $51 million.