Private equity firm bids £3 billion for Sophos

News by Doug Olenick

Sophos board recommends shareholders to accept the £3 billion takeover bid by private equity firm Thoma Bravo

Sophos’ board of directors has recommended to its shareholders that they accept a bid by the private equity firm Thoma Bravo to purchase the cyber-security firm.

Sophos confirmed that Thoma Bravo has bid US$7.40 (£5.8) per share for the company totaling about US$3.9 billion (£3 billion). Thoma Bravo, which has a history of purchasing software companies, said it wants to acquire Sophos to increase its exposure to the large and growing cyber-security market.

"It is the view of the Sophos Board that this is a compelling offer for Sophos shareholders which secures the delivery of future value for shareholders today. Thoma Bravo has deep sector expertise in cyber-security 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," said Peter Gyenes, chairman of Sophos.

The original version of this article was published on SC Media US.

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