Raytheon to buy Websense, fold security firm into new company
US arms maker Raytheon has announced that it is to pay US$ 1.9 billion (£1.27 billion) to acquire web and email security vendor Websense Inc from private equity firm Vista Equity Partners LLC.
The acquisition will see Raytheon combine its own cyber-security division, valued at US$ 400 million (£268.3 million), with Websense in order to form a new company. Raytheon will have an 80 percent stake in the company, with Reuters reporting that Vista Equity also plans to invest around $335 million (£224.75 million) for a 19.7 percent equity stake in the new company.
Vista Equity Partners acquired Websense for US$ 24.75 (£16.60) per share in 2013, via its affiliate Tomahawk Merger Sub. At the time, the security vendor was valued at around US$ 990m (£664 million).
Websense's TRITON range of products covers web filtering and security, email security, and data loss prevention (DLP).