INSUBCONTINENT EXCLUSIVE:
The cybersecurity and network security software developer Sophos has announced that the US private equity group Thoma Bravo has agreed to
acquire the firm for $3.9bn.The UK-based company revealed that it was first approached by Thoma Bravo regarding a possible acquisition back
premium on last week's closing price
The firm's original founders, who collectively own more than a quarter of the company, have agreed to the deal along with major
shareholders including the private equity group Apax.Thoma Bravo has recently purchased a number of cybersecurity firms but Hagerman said
that it intends to keep Sophos as a standalone company once the takeover is complete
Sophos' rival Barracuda and since then it has also added Imperva, Veracode and LogRhytm to its growing portfolio of cybersecurity firms
The private equity group also expressed interest in acquiring Symantec's Norton and McAfee's antivirus software brands last year.Sophos
is the latest UK company to be acquired as foreign buyers look to take advantage of the pound's weakness.However, Thoma Bravo warned UK
The deal is expected to close during the first quarter of next year following regulatory approval.Sophos CEO Kris Hagerman shared his
Sophos is actively driving the transition in next-generation cybersecurity solutions, leveraging advanced capabilities in cloud, machine
learning, APIs, automation, managed threat response, and more
We continue to execute a highly-effective and differentiated strategy, and we see this offer as a compelling validation of Sophos, its
