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Home > Cybersecurity > Thoma Bravo acquired Sophos

Thoma Bravo acquired Sophos

Sophos, a cybersecurity firm, announced the completion of its acquisition by Thoma Bravo. This acquisition ends Sophos’ common stock trading on the London Stock Exchange.

Seda Nur Cinar by Seda Nur Cinar
March 5, 2020
in Cybersecurity
1 min read
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Thoma Bravo acquired Sophos
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Thoma Bravo, a private equity firm, acquired cybersecurity firm Sophos in a cash transaction that values Sophos at approximately $3.9 billion. The acquisition offer was announced on October 14, 2019. Stockholders approved the transaction on December 3, 2019, by voting. According to the agreement, Sophos stockholders receive $7.40 per share.

Next chapter of growth

This share equals 168% premium to its IPO share price in June 2015. Stockholders voted to approve the transaction on December 3, 2019. This acquisition ends Sophos’ common stock trading on the London Stock Exchange. Kris Hagerman, CEO of Sophos, said:

“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. 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 53,000 resellers provides protection of 400,000 organizations more than 150 countries.

 

 

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Seda Nur Cinar

Seda Nur Cinar

Seda Nur Cinar is the news editor of the Cloud7 News. With more than 8 years of Linux and cloud experience, Seda is a Linux and opensource enthusiast, security researcher and a web application developer.

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