- Thoma Bravo announced recently that it is acquiring UK-based cybersecurity company Sophos for $7.40 per share. These are the details around the deal.
Thoma Bravo recently announced that it is acquiring UK-based cybersecurity company Sophos for $7.40 per share. This transaction puts a 37% premium on Sophos’ closing stock price as of the end of trading on Friday, October 11 and brings the total enterprise deal value to $3.9 billion.
The board of directors at Sophos stated they intend to unanimously recommend the offer to the company’s shareholders.
“Today marks an exciting milestone in the ongoing journey of Sophos,” said Sophos CEO Kris Hagerman. “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 position in the industry and its progress.”
Thoma Bravo is a leading private equity firm — which focuses on the software and technology-enabled services sector with over $35 billion in investor commitments. Over the last 40 years, Thoma Bravo acquired over 200 software and technology companies representing more than $50 billion of value.
Back in December, it was rumored that Thomas Bravo was in early discussions to buy McAfee from TPG and Intel. Thoma Bravo also has a minority stake in McAfee.
Another major deal that Thoma Bravo made within the last couple of years was Barracuda Networks for $1.6 billion in November 2017. Plus Thoma Bravo also acquired Veracode for $950 million and Imperva for $2.1 billion in January along with ConnectWise for $1.5 billion in February.
“We are excited by the opportunity to partner with the Sophos management team and employees as we further develop Sophos as a best-in-class software franchise and nextgen security leader. The acquisition fits with our strategy of investing in and growing software and technology businesses globally. The global cybersecurity market is evolving rapidly, driven by significant technological innovation, as cyber threats to business increase in scope and complexity. Sophos has a market-leading product portfolio, and we believe that by applying Thoma Bravo’s expertise, operational framework and experience, we can support the business and accelerate its evolution and growth,” added Thoma Bravo managing partner Seth Boro.
