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