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Linux Authors: Gilad Parann-Nissany, Maureen O'Gara, Glenn Rossman, Hovhannes Avoyan, RealWire News Distribution

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Sourcefire IPOs

The company has joined a very exclusive club of open source companies that have gone public

Sourcefire Inc, the intrusion detection and prevention house whose mojo is based on the popular open source Snort system, went public last Friday at $15 a share, higher than the $12-$14 initially proposed and raising $71.8 million.

Despite the turbulence of the market this week, it held its own and, despite some initial ups and downs, remains a few bucks ahead of its opening price.

The company has joined a very exclusive club of open source companies that have gone public: Red Hat, VA Linux, TurboLinux, Mandriva, Trolltech and when it was still open source, Caldera, now the open source-loathed SCO. MySQL has IPO designs and could be next.

Sourcefire backers, which funded it to the tune of $54 million, include New Enterprise Associates, Sierra Ventures, Sequoia Capital, Inflection Point Ventures and Core Capital. Morgan Stanley and Lehman Brothers handled the IPO.

The six-year-old company lost $865,000 on revenues $44.9 million last year although the second half was profitable to the tune of $2.2 million. There is however a trade secrets suit hanging over its head, which, if nothing else, add to its expenses.

Its users include the 30 US agencies.

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