Sophos Buys Secureworks for $859 Million

Sophos and Secureworks, two global leaders in cybersecurity, have announced a definitive agreement for Sophos to acquire Secureworks in an all-cash deal valued at approximately $859 million. Sophos, backed by the prominent software investment firm Thoma Bravo, will integrate Secureworks’ expertise to enhance its security offerings.

Known for its robust managed security services and end-to-end security solutions, Sophos will complement its portfolio with Secureworks’ Taegis™ platform. It specializes in advanced security operations. This acquisition will provide enhanced Managed Detection and Response [MDR] and Extended Detection and Response [XDR] capabilities. Benefiting organizations of all sizes. By combining their strengths, the two companies aim to bolster the resilience and security posture of global customers. They will integrate cutting-edge AI, threat intelligence, and decades of cybersecurity expertise.

Read About How MDR Leader Sophos, Dominated Europe

Secureworks

The acquisition will allow Sophos to further expand its offerings. Including Identity Threat Detection and Response [ITDR], next-gen Security Information and Event Management [SIEM] capabilities, Operational Technology [OT] security, and improved vulnerability risk prioritization. Because of their deep commitment to their partners, they will drive more value across the security community and strengthen their market presence.

“Secureworks’ market-leading Taegis XDR platform, combined with our MDR expertise, will provide superior cybersecurity outcomes for businesses worldwide. Stated Joe Levy, CEO of Sophos. This acquisition marks a key milestone in our ongoing mission to safeguard the digital world.”

Wendy Thomas, CEO of Secureworks, expressed a shared vision: “Our combined expertise will give organizations the comprehensive security they need to combat modern cyber threats. Together with Sophos, we will offer unmatched global scale and capability.”

Transaction Details

Under the agreement, Sophos will acquire Secureworks for $859 million in cash. Shareholders, including Dell Technologies, will receive $8.50 per share, reflecting a 28% premium over the 90-day volume-weighted average price [VWAP]. The transaction is expected to close in early 2025, subject to customary conditions. More information can be found in Secureworks’ Form 8-K filing with the U.S. Securities and Exchange Commission [SEC] on October 21, 2024.

Sophos is receiving legal counsel from Kirkland & Ellis LLP, and financial guidance from Goldman Sachs, Barclays, BofA Securities, HSBC, and UBS Investment Bank. Piper Sandler, Morgan Stanley, and Paul, Weiss, Rifkind, Wharton & Garrison LLP will advise Secureworks.

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