Barracuda networks application, data, and general network security through a number on-premise devices made for enterprises. More specifically, it offers a firewall, e-mail security service, virus protection, web filters, and more. It also offers a number of subscription-based cloud services, which Bizjournals notes is where Barracuda makes the majority of its revenue.

Eoin Treacy's view Barracuda Network's IPO caught my attention because it appeared in a review of security companies I posted in Comment of the Day in response to a highly informative email submitted by a knowledgeable subscriber in 2011. At the time Barracuda Networks still had an Austrian listing as a result of its acquisition of Phion in 2009. The company delisted from the Austrian market in January 2012.

(Also see Comment of the Day on October 13th 2011).

As more of the global economy moves online, ensuring transactions, our personal data and communications are secure represents a potent growth market. To date, offensive software solutions have been limited to government activities.

Returning to the list of companies mentioned in 2011, Barracuda Networks represents a new entry to the US market. AVG IPOed in early 2012 and following an impressive advance earlier this year has returned to test the region of the 200-day MA. Avast's US IPO is pending. Avira (Germany), Kaspersky (Russia) and PC Tools (Australia) are all still privately held while SonicWall was acquired by Dell 18 months ago.

Among larger companies Cisco Systems and Symantec have returned to test the region of their respective 200-day MAs. Microsoft broke out to new 10-year highs this week while Intel has had a volatile year but continues to hold a progression of higher reaction lows