With growing cases of cyberattacks and hackings, the need for an effective cybersecurity application is imminent. Advancements in digitalization has indeed maximized the chances of cyberattacks. In order to tackle such rising cases, software companies are constantly rolling out new and updated security applications.

Companies in some cases are also expanding their horizon by means of acquiring other businesses that offer a better potential for strengthening their cybersecurity offerings. Sophos Group, a global provider of next-generation cybersecurity, has recently received such an offer from Thoma Bravo, an American private equity firm.

According to reliable sources, Thoma Bravo has offered to acquire Sophos for US$7.40 per share, valuing the deal at around US$3.9 billion. Sophos’ board of directors has also declared their plea to unanimously recommend the proposal to their firm’s shareholders.

For the uninitiated, Thoma Bravo is one of the prominent private equity firms that is dedicated towards software and services sector with more than 200 technology and software firms being acquired by the company that representing over $50 billion in value.

Moreover, Thoma Bravo is also known as one of the highly experienced and active private equity firms which is currently investing in technology and software companies, especially in cybersecurity.

Speaking on the move, Kris Hagerman, CEO, Sophos, said that the company is the front runner in driving innovative cybersecurity solutions and leveraging innovative abilities in machine learning, cloud, automation, APIs, managed threat response and more.

Adding further, Hagerman said that their company will maintain the execution of differentiated and highly effective strategy. Moreover, the company sees this deal as a compelling validation of Sophos along with its progress and position in the industry.

Incidentally, Sophos has also recently made some developments in cybersecurity platforms when it revealed that its Managed Threat Response (MTR), a fully managed threat detection, response and hunting service will now be accessible.

For the record, the service will offer organizations a committed 24/7 security team which would neutralize some of the most highly complex and sophisticated threats.

Source Credit: https://www.sophos.com/en-us/press-office/press-releases/2019/10/thoma-bravo-makes-offer-to-acquire-sophos.aspx