Cloud Storage Service Egnyte Hires Banks for IPO

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Cloud storage service Egnyte hires banks for IPO
Cloud storage service Egnyte has hired underwriters for an IPO in New York that could value it at more than $3 billion, according to people familiar with the matter. Egnyte has tapped JPMorgan Chase to lead its preparations for a stock market flotation that could come as early as this year, the sources said, cautioning the plans could change subject to market conditions.