US investment firm Thoma Bravo has completed its £3.1bn ($3.9bn) takeover of the British security giant Sophos.
The two companies, which announced plans for the acquisition in October, confirmed on Monday morning (2 March) that they had closed the deal.
“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 Sophos’ chief executive Kris Hagerman.
Thomas Bravo secured the unanimous support of Sophos’ directors last year with a cash offer offer of $7.40 per share. It came after warnings of slow growth that triggered a fall in Sophos’ share price in January 2019 and the previous November.
In a statement, Seth Boro, a managing partner at Thoma Bravo, said: “Sophos has been constantly raising the bar with its industry-leading synchronised security, advanced deep learning technology and rapid growth within the MSP channel. We are excited to partner with Sophos to help build upon their success as they further drive innovation in cyber security.”
Sophos employs around 3,300 employees around the world and claims to have more than 400,000 clients in 150 countries. Thoma Bravo described the acquisition in October as an “attractive opportunity to increase its exposure to the large and growing cyber security market”.
The investment firm, which has offices in Chicago and San Francisco, has acquired a total of 200 companies. It bought Barracuda Networks in February 2018, Imperva in January last year and also owns a minority stake in McAfee.
The post Thoma Bravo completes £3.1bn Sophos takeover appeared first on NS Tech.