Karman Holdings, backed by Trive Capital, said on Wednesday that it is targeting a valuation of up to $2.6 billion in its New York initial public offering as the defense and space systems maker looks to take advantage of an expanding market.

SailPoint Inc., an enterprise security software company owned by Thoma Bravo, and shareholders are seeking to raise as much as $1.05 billion in its initial public offering.

Under the proposed IPO, SailPint will be offering shares for sale at between $19 and $21 each, valuing the company at about $11.5 billion. SailPoint will be offering 47.5 million shares in the IPO and existing stockholders will offer 2.