Thoma Bravo completes acquisition of Sophos for $3.9 bn

London, March 2 (IANS) Thoma Bravo, a US-based private equity firm focused on the software and technology-enabled services sectors, has completed the acquisition of Sophos in a cash transaction that values the Britain-based cybersecurity solutions firm at approximately $3.9 billion.

The acquisition offer was announced on October 14, 2019.

Under the terms of the agreement, Sophos stockholders receive $7.40, per share. The price per share represents a 168 per cent premium to its IPO share price in June 2015, Sophos said on Monday.

Stockholders voted to approve the transaction on December 3, 2019.

With the completion of the acquisition, Sophos' common stock has ceased trading on the London Stock Exchange.

"Our transition to become a fully next-gen cybersecurity leader continues to rapidly progress. Last quarter, our next-gen product portfolio represented over 60 per cent of our entire business, and grew 44 per cent year-over-year," Kris Hagerman, CEO, Sophos, said in a statement.

"And very recently, we launched our most significant network security technology ever, the Sophos XG Firewall with Xstream architecture. With Thoma Bravo as a partner, we believe we can accelerate our progress and get to the future even faster, with dramatic benefits for our customers, our partners and our company as a whole," Hagerman added.

Sophos partners with more than 53,000 resellers and managed service providers to protect more than 420,000 organisations and 100 million users from cyber threats.