With increasing reliance on Cloud Computing, the domain of Cyber Security is taking center stage. No matter how effective and innovative a cloud based service, it stands no chance without a comprehensive cyber security apparatus in place.
This urgency was quite rightly and timely felt by private equity firm “Thoma Bravo”. It went on to give an offer to the shareholders of Sophos that was too good to pass. Sophos is a highly reputed and respected brand name in the cyber security space.
Each share of Sophos was valued at £5.83, which equates to £3.1 BN in cash. Relative to Friday’s closing price of Sophos on the London Stock Exchange, the buyout price comes at a premium of about 37%. The offer price was vetted by the board of the listed company.
Thoma Bravo, the private equity firm behind the buyout, already has a rich portfolio of cyber security companies and innovative solutions. At the time of this buyout, Sophos boasts about 400,000 customers across 150 countries.
The current users availing the solutions offered by Sophos are nearly 100 million, with 47,000 channel partners. Some of the major competitive advantages cited by the acquiring company were innovative yet simple solutions, extensive partner network, strong retention rates couples with high renewal rates.
It is believed by many analysts that this acquisition will turn over a new leaf for Sophos. Thoma Bravo has a strong track record of investing in the long-term growth and sustainability of the companies it has acquired over the past.