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San Francisco and London, 14 October 2019 – Thoma Bravo, LLC ('Thoma Bravo'), a leading private equity investment firm focused on the software and technology-enabled services sectors, today announced that it has reached agreement with the board of directors of Sophos Group plc ('Sophos') on the terms of a recommended cash offer for the entire issued and to be issued share capital of Sophos (the 'Acquisition'). Company fell into overseas hands on Monday after U.S. Private-equity group Thoma Bravo reached an agreement to buy Sophos UK:SOPH in an all-cash deal that values the British. And SAN FRANCISCO, Calif. – March 2, 2020 – Sophos, a global leader in next-generation cybersecurity, today 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.
Sophos’ MSP business grew more than 75% year over year last quarter.
And SAN FRANCISCO, Calif.– March 2, 2020 – Sophos, a global leader in next-generation cybersecurity, today 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. Portfolio Company Spotlight features Sophos, a leader in next-generation cybersecurity.Sophos has more than 400,000 customers in more than 150 countries, and since the start of COVID-19, the company has been helping businesses securely transition to virtual, work-from-home environments.
Thoma Bravo‘s nearly $4 billion acquisition of cybersecurity giantSophosis now complete and the company is ready to gain even more ground on rivals such as McAfee and CrowdStrike in endpoint, and Palo Alto Networks and Fortinet in next-gen firewall.
Thoma Bravo, the private equity firm, has acquired more than 200 software and technology companies representing more than $50 billion of value. Among the firm’s acquisitions are Imperva, Veracode and Barracuda Networks, and a stake in McAfee.
Most recently, Sophos introduced a new Xstream architecture for its XG Firewall with transport layer security (TLS) traffic decryption capabilities designed to eliminate security risk associated with encrypted network traffic.
XG Firewall now also features AI-enhanced threat analysis from SophosLabs and accelerated application performance.
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In a Q&A with Channel Futures, Kris Hagerman, Sophos’ CEO, talks about what the acquisition will mean for his company and what partners can expect in the coming months.
Channel Futures: With the acquisition completed, what’s next in the process?
Thoma Bravo as our sole investor. And we’re just very excited to start this next chapter. We’ve had a really good run over the last few years. We feel like we’re on a real roll right now and we think working with Thoma Bravo will only help accelerate that.
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CF: What will this acquisition mean for Sophos’ partners? Will it create new opportunities for them?
KH: Yes, and I mean that fundamentally. Let’s start with the basics. Sophos is committed to our channel first and channel is our best go-to-market strategy. This strategy is a big part of what has driven our success and that will continue. And Thoma Bravo sees an exciting opportunity to continue to aggressively grow Sophos, both organically and inorganically, and so do we. And with Thoma Bravo’s guidance and support and investment, we believe we can accelerate the next-gen transition we already have well underway and get to the future faster, which has benefits for our customers, our partners and for Sophos as a whole.
If you think about where we are at the moment, we’ve been driving this quite exciting transition to become a true next-gen security leader, and as of the last quarter, we now have over 60% of our business in this next-gen product portfolio – which is all of our most advanced products – all managed in Sophos Central, which is our cloud-based management platform, and that next-gen business was not only 60% of our total business, but it grew over 40% year over year in the last quarter. So we think that we’re on a very nice trajectory and with the help of Thoma Bravo, we fully expect …
From https://mymarketlogic.com/blog/sophos-ceo-faster-growth-expected-under-thoma-bravo-ownership/
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From https://managedservicesmarketing.blogspot.com/2020/03/sophos-ceo-faster-growth-expected-under.html
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OXFORD, U.K. and SAN FRANCISCO, March 02, 2020 (GLOBE NEWSWIRE) -- Sophos, a global leader in next-generation cybersecurity, today 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. 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 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. Its comprehensive product portfolio is easily managed through Sophos Central, a single, integrated cloud-based management platform where solutions work together for real-time information sharing and threat response with Sophos’ unique synchronized security approach. Sophos Managed Threat Response services provide an additional 24/7 security team for fully-managed threat hunting, detection and response spanning across endpoint and firewall.
“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. “We are excited to partner with Sophos to help build upon their success as they further drive innovation in cybersecurity.”
Additional Resources
- Discover the five TLS inspection capabilities needed in the Has Encryption Made Your Firewall Irrelevant? white paper
- Learn about the threat landscape and 2020 trends in the SophosLabs Threat Report
- Stay up to date on the latest security and company news with Naked Security and Sophos News
- Connect with Sophos on Twitter, LinkedIn, Facebook, Spiceworks, Instagram, and YouTube
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About Sophos
As a worldwide leader in next-generation cybersecurity, Sophos protects more than 400,000 organizations of all sizes in more than 150 countries from today's most advanced cyberthreats. Powered by SophosLabs - a global threat intelligence and data science team - Sophos' cloud-native and AI-enhanced solutions secure endpoints (laptops, servers and mobile devices) and networks against evolving cybercriminal tactics and techniques, including automated and active-adversary breaches, ransomware, malware, exploits, data exfiltration, phishing, and more. The award-winning Sophos Central cloud-based platform integrates Sophos' entire portfolio of best-of-breed products, from the Intercept X endpoint solution to the XG Firewall, into a single system called Synchronized Security. Sophos products are exclusively available through a global channel of more than 53,000 partners and Managed Service Providers (MSPs). Sophos also makes its innovative commercial technologies available to consumers via Sophos Home. The company is headquartered in Oxford, U.K. More information is available at www.sophos.com.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $35 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago.
Press Contacts:
Lesley Sullivan, Sophos
Lesley.Sullivan@sophos.com
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Samantha Powers, March Communications
sophos@marchcomms.com