Space News from SpaceDaily.com
UK antivirus software maker agrees to �3.1bn takeover
ADVERTISEMENT

London, Oct 14 (AFP) Oct 14, 2019
Britain's Sophos Group, known worldwide for its antivirus and encryption software, said Monday that it has agreed to a pound3.1-billion takeover from US private equity firm Thoma Bravo.

The agreed bid, worth the equivalent of $3.9 billion or 3.4 billion euros, was pitched at 583 pence per share and marked a 37-percent premium to Friday's closing price, Sophos said in a statement.

"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," added Sophos Chairman Peter Gyenes.

"Thoma Bravo has deep sector expertise in cybersecurity 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.

"Under Thoma Bravo's ownership we expect Sophos to accelerate its evolution and leadership in next-generation cybersecurity."

The US private equity company, which owns McAfee, another leader in antivirus software, added that Sophos would hand it a market-leading portfolio in cybersecurity.

"The acquisition fits with our strategy of investing in and growing software and technology businesses globally," said Seth Boro, a managing partner at Thoma Bravo, in the statement.

"The global cybersecurity market is evolving rapidly, driven by significant technological innovation, as cyber threats to business increase in scope and complexity.

"Sophos has a market-leading product portfolio and we believe that, by applying Thoma Bravo's expertise, operational framework and experience, we can support the business and accelerate its evolution and growth."


ADVERTISEMENT




Space News from SpaceDaily.com
Final Voyage Delayed: ULA Postpones Last Delta IV Heavy Launch with Classified NRO Payload
Japan Moon probe survives second lunar night
Europe space telescope's sight restored after de-icing procedure

24/7 Energy News Coverage
Revolutionizing Particle Physics: AI's Role in Deciphering Complex Particle Paths
UC San Diego Scientists Unveil Plant-Based Polymers that Biodegrade Microplastics in Months
Cambridge working to unlock new solar energy pathways

Military Space News, Nuclear Weapons, Missile Defense
AI generates high-quality images 30 times faster in a single step
Aerospacelab and Xona Unite to Transform Satellite Navigation
GITAI's robotic system triumphs in ISS demo

24/7 News Coverage
'Just staggering': UN says households waste 1 bn meals a day
Neolithic Mariners: Unveiling the Mediterranean's Oldest Boats
Greece to buy seven Canadian water bombers for wildfires


All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.