The British company Sophos group, which is well known for its encryption and antivirus software, made a statement to the public on Monday that it has agreed to a 3.1billion pound take over. From Thoma Bravo, a US private equity firm.
Sophos stated that the agreed bid, which is the equivalent of $3.9billion or 3.6billion euros, was put up at 583 pence per share and struck a 37 percent premium to Friday’s closing price.
Sophos chairman Peter Gyenes mentioned, “It is the view of the Sophos board that this is a persuasive proposal for Sophos shareholders. And that this will secure the delivery of future value for shareholders today,”
Here is the Sophos’ Official Statement
A managing partner at Thoma Bravo, Seth Boro said in a statement;
“Thoma Bravo has in-depth sector know-how in cybersecurity software. As well as a long and thriving track record of investing and partnering with its portfolio companies to aid long-term development and progress.
“Under Thoma Bravo’s ownership, we await Sophos to advance its evolution and leadership in next-generation cybersecurity. The purchase fits with our strategy of investing in and growing software and technology businesses globally. The global cybersecurity market is unfolding rapidly, driven by remarkable technological innovation, as cyber threats to business increase in rang and intricacy.”
“Sophos has a growing product portfolio in the market. And we believe that, by putting in Thoma Bravo’s proficiency, operational setup, and experience, we can assist the business and add to its evolution and growth.”
The US private equity firm, which owns another leading antivirus software company McAfee, added that Sophos would transfer a market-leading portfolio in cybersecurity to it.