Thought Leadership
The British cyber security provider Sophos announced the takeover of its US competitor Secureworks for around 859 million dollars on Monday.
The transaction is expected to be completed in early 2025 and is still subject to the usual closing conditions.
By joining forces, the two companies aim to strengthen their position in the highly competitive market for cyber security solutions. Sophos, which is backed by software investor Thoma Bravo, intends to add Secureworks’ Taegis platform to its portfolio.
Joe Levy, CEO of Sophos, emphasized the strategic importance of the acquisition: “The combination of Secureworks’ innovative Taegis XDR platform with our security solutions will strengthen our collective market position.” He added that this is a significant step towards building a more secure digital future for all. Both companies have many years of expertise in threat intelligence, security operations and incident response.
Secureworks shareholders, including majority owner Dell Technologies, will receive $8.50 per share in cash. The transaction underscores the ongoing consolidation trend in the cybersecurity industry, where companies are merging to improve their competitiveness and offer more comprehensive solutions.
