Francisco Partners to Buy Forcepoint from Raytheon Technologies for Undisclosed Sum
Private equity firm Francisco Partners will acquire cybersecurity solutions firm Forcepoint from Raytheon Technologies, the companies announced Monday.
Terms of the agreement were not disclosed.
With thousands of customers across more than 150 countries, Forcepoint offers a portfolio of products and services to help enterprises monitor and lock down their networks, endpoints and data. The company launched a new business unit focusing on critical infrastructure in September 2018.
ForcePoint was created in 2015 and unveiled as a new brand in 2016 after Raytheon and Websense announced a $1.9 billion deal with Vista Equity Partners to form a new company combining Websense with Raytheon Cyber Products. Websense was previously taken private in May 2013 by Vista for over $900 million.
“We look forward to working with the Forcepoint management team to help the company realize its full potential as an independent company while delivering enhanced value to the company’s customers, partners, and the end users its products protect,” said Andrew Kowal, Partner at Francisco Partners.
“This transaction represents an exciting opportunity for Forcepoint to continue to innovate and drive growth with Francisco Partners. We believe that this partnership will help us to continue to invest in our products and organization while delivering increased value to our customers.”