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Private equity fund buys big Sophos stake
Stephen Withers
Tuesday, 04 May 2010 16:04
Page 1 of 2
A majority shareholding in security vendor Sophos is being acquired by a private equity fund in a deal that values the company at $US830 million.
The transaction values Sophos at $US830 million.
Other shareholders, including co-founders Jan Hruska and Peter Lammer, will retain "significant" stakes in the business, according to Sophos officials. Hruska and Lammer were believed to own 60% of the company, with 20% in the hands of TA Associates.
Sophos CEO Steve Munford said that gaining the backing of Apax was "great news for our customers, prospects, [and] partners."
Salim Nathoo, a partner in the Apax's tech and telecom team said "We identified the security software space as an attractive investment area for us given its rapid growth driven by ever increasing malware threats and high barriers to entry. Sophos is a very strong platform and is gaining market share."
What does the outgoing shareholder have to say? Please read on.
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