Sophos, Thoma Bravo complete ‘Take-Private’ transaction | Daily News


 

Sophos, Thoma Bravo complete ‘Take-Private’ transaction

Sophos, a global leader in next-generation cybersecurity, yesterday announced the completion of its acquisition by Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors, in a cash transaction that values Sophos at approximately $3.9 billion. The acquisition offer was announced on Oct. 14, 2019.

Under the terms of the agreement, Sophos stockholders receive $7.40 USD, per share. The price per share represents a 168% premium to its IPO share price in June 2015. Stockholders voted to approve the transaction on Dec. 3, 2019. With the completion of the acquisition, Sophos’ common stock has 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, CEO, Sophos.

“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.

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 partners with more than 53,000 resellers and managed service providers to protect more than 420,000 organizations and 100 million users from the most advanced cyberthreats.

“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.


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