UK based cyber security-based software Maker “Sophos” agree for the acquisition offer from Thoma Bravo for $3.9 Billion that valued their $7.40 USD per share.
Sophos is a private equity firm that provides cloud-based enterprise that offers various products and services that focused on communication endpoint, encryption, network security, email security, mobile security, and unified threat management.
Sophos announced today this acquisition commitment via press release said: “The board of directors of Sophos has stated their intention to unanimously recommend the offer to the company’s shareholders.”
40 years old Thoma Bravo is one of the leading private equity in U.S focus on software and technology with more than $35 billion investor commitment and the company is also focused with implement best practices, invest in growth initiatives, drive innovation. Thoma Bravo has completed more than 200 acquisitions representing over $50 billion in aggregate enterprise value.
According to the acquisition agreement for shareholders, The Acquisition values the entire issued and to be issued share capital of Sophos at approximately $3,820 million on a fully diluted basis and implies an enterprise value of $3,948 million (which is equivalent to £3,012 million and £3,113 million respectively based on the Announcement Exchange Rate) and a multiple of approximately 32 times Sophos’ unlevered free cash flow of $124 million for the year ended 31 March 2019.
Thoma Bravo strongly believes that Sophos’ acquisition will help to explore the growing cybersecurity market and also recognizes Sophos’ management’s track record driven by its innovative, simple and highly effective solutions.
“Today marks an exciting milestone in the ongoing journey of Sophos,” said Kris Hagerman, CEO, Sophos. “Sophos is actively driving the transition in next-generation cybersecurity solutions, leveraging advanced capabilities in cloud, machine learning, APIs, automation, managed threat response, and more.