One of the most active private equity firms in the technology and software sector, Thoma Bravo, has made an offer to acquire the cybersecurity firm Sophos. The offer of $7.40 per share represents an enterprise value of $3.82 billion.
Over the past 40 years, Thoma Bravo has acquired more than 200 computer software and technology firms with a combined value of $50 billion. Those acquisitions have been secured with more than $35 billion in investor commitments. The private equity group has a particular focus on cybersecurity firms and is known for working closely with its acquired companies to drive innovation and deliver significantly improved operating results, which it achieves through the implementation of best practices and investment in new growth initiatives.
The offer from the U.S.-based private equity firm will be recommended to Sophos shareholders by the Sophos board of directors. Sophos CEO, Kris Hagerman, said the acquisition of Sophos by Thoma Bravo marks an exciting milestone in the history of the company. The company is already a leading cybersecurity firm, trusted by its customers to provide innovative solutions to block cyberattacks.
The company is leveraging advanced cloud capabilities, machine learning and AI, APIs, managed threat response, and automation to generate a new breed of cybersecurity solutions to protect businesses against an ever increasing and diverse range of threats.
“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,” said Hagerman.