Cybersecurity company Sophos has announced earlier today that it has been acquired. The firm was acquired by Thoma Bravo, a private equity firm in an all-cash transaction that valued the company at $3.9 Billion.
The company’s stakeholders reportedly voted to approve the transaction on December 3rd. As a result of the acquaintance, the company’s stockholders walked away with $7.40 per share.
Sophos’ common stock has also ceased trading in the London Stock Exchange as a result.
“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,” says Sophos chief executive officer Kris Hagerman.
“Our transition to becoming 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,” added Hagerman.
The firm recently launched the Sophos XG Firewall curated with the XStream architecture aimed at clamping down on encrypted network traffic security-linked risks. Hagerman says they expect to accelerate the company’s progress to get to the future even faster with Thoma Bravo as a partner.
“Sophos has been raising the bar with its synchronized security, deep learning technology and growth within the MSP channel,” says Thoma Bravo managing partner, Seth Boro.
“We are excited to partner with Sophos to help build upon their success as they further drive innovation in cybersecurity,” he added.
The cybersecurity firm has, to date, partners with over 53,000 resellers and managed service providers. The partnership helps protect over 420,000 organizations and 100 million users around the globe from advanced cyber threats, according to the company.