Dell's about to IPO a company it bought for $612 million and make it worth $2 billion

Dell is in the works to take its cybersecurity unit SecureWorks public by the end of the year, the Wall Street Journal reported Friday.

The report said Dell has already filed papers to the SEC under the JOBS Act, which allows companies with less than $1 billion in revenue to secretly file for an IPO, and the roadshow could happen as early as December.

Dell is apparently expecting to snatch a $2 billion market cap for SecureWorks, a company it bought for $612 million in 2011, once it goes public.

The report added that Dell is unlikely to sell any of its ownership stake in SecureWorks after the IPO, which is in part intended to help the company raise money for "future acquisitions."

The IPO comes at an interesting time, as Dell was just reported to be in talks to merge with $50 billion storage and computing giant, EMC. Bloomberg reported Dell is planning to raise roughly $40 billion for the merger.

Dell, founded by Michael Dell at his college dorm room in 1984, was a public company until 2013, when Dell took it private in a $25 billion buyout deal.