Israeli cybersecurity software company NSO Group Technologies Ltd. is contemplating an IPO either on the Tel Aviv Stock Exchange or Nasdaq, Globes reported Jan. 5, citing sources close to the matter.

NSO, which is backed by private equity firm Novalpina Capital LLP, could reach a valuation of about $2 billion, market sources told the news outlet.

Senior executives at NSO have met with officials of the Tel Aviv Stock Exchange to discuss the possible flotation, the report added.

NSO has not responded to Globes' request for comment.