US private equity group to acquire Sophos for $3.9 billion

Shares in British cybersecurity company increase following acquisition offer from private equity group Thoma Bravo

US private equity group to acquire Sophos for $3.9 billion                                 

US private equity group Thoma Bravo has made an offer to acquire Sophos in a deal that values the British cloud-enabled cybersecurity group at approximately $3.9 billion (£3.1 billion).

A statement released by Sophos (LSE: SOPHOS) this morning revealed that shareholders will receive $7.40 USD per share and that the board of directors of Sophos intends to unanimously recommend the offer to the company’s shareholders.

Shares in the Oxfordshire-based business, which sells security software to small and medium-sized businesses, jumped 36.6 per cent this morning following the news.

Sophos chief executive, Kris Hagerman, said he sees this offer as a “compelling validation of Sophos, its position in the industry and its progress.”

“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,” he said.

With a 40-year history, Thoma Bravo has acquired more than 200 software and technology companies representing more than $50 billion of value.

It focuses on the software- and technology-enabled services sector with more than $35 billion in investor commitments.

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