Cloud monitoring, log management and SIEM solutions provider Sumo Logic is set to become a private company after it has entered into a definitive agreement to be acquired by affiliates of private equity firm Francisco Partners for $1.7 billion.
Francisco Partners is prepared to pay $12.05 per share in cash. The law firm Kahn Swick & Foti has announced that it’s investigating the deal to determine if the price is adequate.
Sumo Logic offers cloud-native SaaS analytics, helping organizations make their apps more secure and reliable. The company’s platform includes cloud security analytics, SIEM, SOAR, audit and compliance, log analytics, infrastructure monitoring, and application observability capabilities.
Sumo Logic raised a total of $345 million before becoming a publicly traded company in 2020.
An analysis conducted by SecurityWeek shows that of the more than 450 cybersecurity-related M&A deals announced in 2022, 18 involved PE firms, roughly the same as in the previous year.
Thoma Bravo acquired SailPoint, Ping Identity, and Forgerock for billions of dollars, and sold Barracuda Networks for $4 billion. Vista Equity Partners acquired KnowBe4 for $4.6 billion.
Related: Thoma Bravo to Buy Magnet Forensics in $1.3B Transaction
Related: Cybersecurity M&A Roundup: 21 Deals Announced in December 2022
Related: Cybersecurity M&A Roundup: 40 Deals Announced in January 2023
Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.
More from Eduard Kovacs
- Exploitation of 55 Zero-Day Vulnerabilities Came to Light in 2022: Mandiant
- Organizations Notified of Remotely Exploitable Vulnerabilities in Aveva HMI, SCADA Products
- Waterfall Security, TXOne Networks Launch New OT Security Appliances
- Hitachi Energy Blames Data Breach on Zero-Day as Ransomware Gang Threatens Firm
- New York Man Arrested for Running BreachForums Cybercrime Website
- Exploitation of Recent Fortinet Zero-Day Linked to Chinese Cyberspies
- Mozilla Patches High-Severity Vulnerabilities With Release of Firefox 111
- Microsoft: 17 European Nations Targeted by Russia in 2023 as Espionage Ramping Up
Latest News
- Google Suspends Chinese Shopping App Amid Security Concerns
- Verosint Launches Account Fraud Detection and Prevention Platform
- Ransomware Gang Publishes Data Allegedly Stolen From Maritime Firm Royal Dirkzwager
- Zoom Paid Out $3.9 Million in Bug Bounties in 2022
- Oleria Scores $8M Seed Funding for ID Authentication Technology
- Exploitation of 55 Zero-Day Vulnerabilities Came to Light in 2022: Mandiant
- News Analysis: UK Commits $3 Billion to Support National Quantum Strategy
- Malicious NuGet Packages Used to Target .NET Developers
