Sophos buys Secureworks for US$859 million – Safety

Thoma Bravo-backed cyber safety agency Sophos will purchase Secureworks from Dell Applied sciences for US$859 million ($1.3 billion) in money to strengthen its product lineup for enterprise prospects.

Secureworks shareholders, together with Dell, will obtain US$8.50 per share. 

Based in 1998, Secureworks’ flagship cloud-based platform Taegis helps detect superior threats, in accordance with its web site.

However the firm has struggled to distinguish its merchandise in its race with greater cyber safety suppliers.

It reported a quarterly lack of 17 US cents per share within the quarter ended July 31.

Its proprietor Dell had funding bankers from Morgan Stanley and Piper Sandler assess takeover curiosity from potential patrons, together with non-public fairness corporations, after earlier unsuccessful sale makes an attempt, Reuters had reported.

Dell acquired Secureworks for US$612 million in 2011 earlier than itemizing its shares by an preliminary public providing in New York in 2016.

It earlier explored a sale of Secureworks in 2019.

Thoma Bravo, in the meantime, is constructing a portfolio of cyber safety property and had acquired UK’s Darktrace for round US$5.3 billion earlier this yr.

The transaction is anticipated to shut in early 2025.