Secureworks and Sophos announced a final deal for Sophos to buy Secureworks. The total value of the all-cash deal is about $859 million. Thoma Bravo, a top software investment business, supports Sophos.
It is anticipated that Secureworks’ security operations experience, which was incorporated into the Taegis platform, and Sophos’ experience and reputation as a top supplier of managed security services and end-to-end security products will further provide complementary advanced MDR and XDR solutions for the benefit of their international clientele.
With a combination of security controls, artificial intelligence (AI), top-tier threat intelligence, and two teams with decades of cybersecurity experience, they will work together to help global enterprises of all sizes improve their security posture and resilience.
In order to provide small, mid, and enterprise clients with a more comprehensive and robust security portfolio, Sophos anticipates integrating solutions from both businesses.
This includes Sophos adding new products to its portfolio, including as better vulnerability risk prioritization, next-generation SIEM capabilities, operational technology (OT) security, and identity detection and response (ITDR). The merger of Sophos and Secureworks, two partner-focused businesses, will allow the merged company to increase its market footprint, add more value to the channel, and fortify the security community as a whole.
Global geopolitical challenges and a thriving cybercriminal ecosystem are the main causes of the ongoing increase in cyber danger. In order to assist enterprises beat these adversaries, Sophos and Secureworks have a long history of combining their outstanding threat intelligence, security operations, incident response, and new security product capabilities.
Acquisition Process
In accordance with the deal, Sophos plans to pay $859 million in all cash to purchase Secureworks. Dell Technologies (NYSE:DELL) and other Secureworks stockholders will get $8.50 in cash per share.
Compared to the unaffected 90-day volume-weighted average price (VWAP), this is a 28% premium. Subject to standard closing conditions, the deal is anticipated to close in early 2025.
The Form 8-K that Secureworks submitted to the US Securities and Exchange Commission (SEC) on October 21, 2024, contains more details about this news.
Key Comments
“Secureworks offers an innovative, market-leading solution with their Taegis XDR platform. Combined with our security solutions and industry leadership in MDR, we will strengthen our collective position in the market and provide better outcomes for organizations of all sizes globally, said Joe Levy, CEO of Sophos. “Secureworks’ renowned expertise in cybersecurity perfectly aligns with our mission to protect businesses from cybercrime by delivering powerful and intuitive products and services. This acquisition represents a significant step forward in our commitment to building a safer digital future for all.”
“Our mission at Secureworks has always been to secure human progress. Sophos’ portfolio of leading endpoint, cloud, and network security solutions – in combination with our XDR-powered managed detection and response – is exactly what organizations are looking for to strengthen their security posture and collectively turn the tide against the adversary,” said Wendy Thomas, CEO, Secureworks. “As Joe and I both believe, this transaction will strengthen our go-to-market offering with Sophos’ global scale, expertise and reputation.”
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