US private equity firm Thoma Bravo has put a bid to acquire cloud-enabled cybersecurity company Sophos in a deal worth around $3.8bn.
The sale will be around $7.40 per share.
Sophos’ board of directors have stated their intention to unanimously recommend the offer to the company shareholders.
The cybersecurity company gives businesses the capability to secure their endpoints, including laptops, mobile devices, and servers, to networks and web. Its solution can be managed through a single cloud-based centralised platform, which includes endpoint protection, firewall, and cloud security services.
Sophos CEO Kris Hagerman said, “Today marks an exciting milestone in the ongoing journey of Sophos. 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.”
Earlier in the year, Sophos deployed its services to the business process services company SYNNEX. The deal sees Sophos deploy its security management tools to the clients of SYNNEX.
Copyright © 2018 RegTech Analyst
