Private equity investment firm Thoma Bravo has made an offer to acquire UK-based cybersecurity firm Sophos for $3.9 billion.
The announcement was made on Monday and Sophos said its board of directors will “unanimously recommend the offer to the company’s shareholders.”
Thoma Bravo has offered $7.40 per share, which represents a 37% premium to the security firm’s closing price on Friday.
“Today marks an exciting milestone in the ongoing journey of Sophos,” said Kris Hagerman, CEO of 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. We continue to execute a highly-effective and differentiated strategy, and we see this offer as a compelling validation of Sophos, its position in the industry and its progress.”
Thoma Bravo has acquired over 200 software and tech companies with a total value of over $50 billion, and is considered one of the most active private equity firms in this space.
Other cybersecurity solutions providers acquired by Thoma Bravo in recent years include Centrify, LogRhythm, Barracuda Networks (for $1.6 billion), Veracode (for $950 million), and Imperva ($2.1 billion).