Apax Partners buys control of Sophos

By on
Apax Partners buys control of Sophos

Private equity firm takes stake.

UK security vendor Sophos has sold a majority stake in the company to private equity firm Apax Partners in a deal that values Sophos at US$830m ($913.2m).

Sophos, which has over 100 million users in more than 150 countries, is the last major privately owned security firm in the industry.

The company had reportedly been planning an IPO in 2007 but cancelled it due to the poor financial climate.

"We identified the security software space as an attractive investment area for us given its rapid growth driven by ever increasing malware threats and high barriers to entry," said Salim Nathoo, a partner in the Tech & Telecom team at Apax Partners.

"Sophos is a very strong platform and is gaining market share. Apax's strong track record and industry specific knowledge in the technology sector makes Sophos a perfect fit, and we look forward to working closely with this high-growth business."

The deal will allow Sophos founders Dr Peter Lammer and Dr Jan Hruska to realise some of the value of the company they started 25 years ago.

"As the market continues its migration from point solution to tailored, unified security suites, Sophos's strategy to offer the world's most resilient, cost effective solutions without any additional complexity remains key," said Steve Munford, chief execuitve of Sophos.

"Apax's financial backing, combined with Sophos' deep understanding of security and data protection, is great news for our customers, prospects and partners. It is also a testament to the efforts of all those who helped bring Sophos to where it is today."

Copyright ©v3.co.uk
Tags:

Most Read Articles

You must be a registered member of iTnews to post a comment.
| Register

Poll

How should the costs of Australia's piracy scheme be split?
Rights holders should foot the whole bill
50/50
ISPs should foot the whole bill
Government should chip in a bit
Other
Flash is heading towards its grave, and that's...
Great! Good riddance
Sad! Flash had some good qualities
Irrelevant. I don't care
What's Flash?
View poll archive

Whitepapers from our sponsors

What will the stadium of the future look like?
What will the stadium of the future look like?
New technology adoption is pushing enterprise networks to breaking point
New technology adoption is pushing enterprise networks to breaking point
Gartner names IBM a 'Leader' for Disaster Recovery as a Service
Gartner names IBM a 'Leader' for Disaster Recovery as a Service
The next era of business continuity: Are you ready for an always-on world?
The next era of business continuity: Are you ready for an always-on world?

Log In

Username:
Password:
|  Forgot your password?