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Sophos considering $3.9bn buyout

(Image credit: Pixabay)

Private equity firm Thoma Bravo is close to buying UK-based cybersecurity firm Sophos, the two companies announced earlier today. According to the announcement, Thoma Bravo would be shelling out $7.40 per share, which brings the total value of the cybersecurity giant to $3.9 billion.

According to the media, this also represents a 37 per cent premium on the market trading price, taking into consideration the price Sophos’ shares had on Friday.

According to ZDNet, Sophos’ board of directors is planning on “unanimously recommending” the acquisition to its shareholders.

“The global cybersecurity market is evolving rapidly, driven by significant technological innovation, as cyber threats to business increase in scope and complexity,” Seth Boro, managing partner, at Thoma Bravo said in a statement.

The news left quite a mark on the stock market. Sophos’ shares rose 38 per cent when the news broke. One of its rivals, Avast has also, perhaps unexpectedly, experienced a 3.5 per cent rise in its value.  

Earlier, Thoma Bravo held stakes in other companies in the cybersecurity industry, including Tripwire, Blue Coat, Sonicwall, Digicert, and Entrust. It also bought a minority stake in McAfee last year. Back then, rumours were circling around that it was interested in buying out the entire company. So far, these rumours did not come true.