Sophos’ board of directors has recommended to its shareholders that they accept a bid by the private equity firm Thoma Bravo to purchase the cybersecurity firm.
Sophos confirmed that Thoma Bravo has bid $7.40 per share for the company totaling about $3.9 billion. Thoma Bravo, which has a history of purchasing software companies, said it wants to acquire Sophos to increase its exposure to the large and growing cybersecurity market.
“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. 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,” said Peter Gyenes, chairman of Sophos.