Security Market Segment LS
Wednesday, 04 March 2020 04:16

Sophos acquired by Thoma Bravo for US$3.9 billion Featured

By
Sophos CEO Kris Hagerman Sophos CEO Kris Hagerman

Global cyber security firm Sophos has announced the completion of its acquisition by private equity firm Thoma Bravo, in a cash transaction that values Sophos at approximately US$3.9 billion.

The acquisition offer was announced on 14 October last year and under the terms of the agreement, Sophos stockholders receive US$7.40 per share.

The price per share represents a 168% premium to its IPO share price in June 2015, with stockholders voting to approve the transaction on 3 December 2019 – and with the completion of the acquisition, Sophos’ common stock ceased trading on the London Stock Exchange.

“Sophos is excited to work with Thoma Bravo as we begin our next chapter of growth and success, continuing in our mission to deliver the world’s most effective next-generation cybersecurity technology,” said Kris Hagerman, Sophos chief executive.

“Our transition to become a fully next-gen cybersecurity leader continues to rapidly progress. Last quarter, our next-gen product portfolio represented over 60% of our entire business, and grew 44% year-over-year. And very recently, we launched our most significant network security technology ever, the Sophos XG Firewall with Xstream architecture.

“With Thoma Bravo as a partner, we believe we can accelerate our progress and get to the future even faster, with dramatic benefits for our customers, our partners and our company as a whole.”

“Sophos has been constantly raising the bar with its industry-leading synchronized security, advanced deep learning technology and rapid growth within the MSP channel,” said Seth Boro, a managing partner at Thoma Bravo.

“We are excited to partner with Sophos to help build upon their success as they further drive innovation in cyber security.”


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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