OXFORD, U.K. – Oct. 14, 2019 – Sophos, a global leader in cloud-enabled next-generation cybersecurity, today announced that Thoma Bravo, a US-based private equity firm, has made an offer to acquire Sophos (LSE: SOPHOS) for $7.40 USD per share, representing an enterprise value of approximately $3.9 billion. The board of directors of Sophos have stated their intention to unanimously recommend the offer to the company’s shareholders.
Thoma Bravo is a leading private equity firm focused on the software and technology enabled services sector with more than $35 billion in investor commitments. With a 40-year history, Thoma Bravo has acquired more than 200 software and technology companies representing more than $50 billion of value. Thoma Bravo is one of the most active and experienced private equity firms investing in software and technology companies, and cybersecurity in particular. Thoma Bravo is known for working with a company’s management team to implement best practices, invest in growth initiatives, drive innovation, and deliver superior operating results.
“Today marks an exciting milestone in the ongoing journey of Sophos,” said Kris Hagerman, CEO, Sophos. “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. 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.”
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What This Means for You This is an exciting opportunity for both Sophos and our partners. Thoma Bravo has been building and growing companies and providing equity and strategic support to experienced management teams for several decades. Thoma Bravo has deep sector expertise in cybersecurity software as well as a long and successful track record of partnering with and investing in its portfolio companies to support long-term growth and success. On a practical basis it is business as usual. At Sophos we are always innovating, and we are always evolving. And we will continue to work tirelessly to deliver advanced, highly-effective, and intuitive cybersecurity solutions. Next Steps As we achieve key milestones and move through the acquisition process, we will continue to share updates with you and ensure you are kept informed of any developments, wherever possible. At this stage, due to regulatory restrictions, I am unable to provide any more detail on the offer beyond what is disclosed on our website. At Sophos we continue to execute a highly-differentiated strategy, and it’s working. We see Thoma Bravo’s offer as a compelling validation of Sophos, its position in the industry, and its progress. We look forward to working with Thoma Bravo post-completion to accelerate our evolution and leadership in next-generation cybersecurity – and to sharing this exciting journey with you, our partners. |
