Sophos acquires Secureworks for $859 million

Sophos acquires Secureworks for $859 million

Sophos acquires Secureworks for $859 million.

Sophos has entered into an agreement to acquire Secureworks. With an $859 million transaction, Sophos aims to expand its cyber security portfolio by combining solutions from both companies.

Integration of technology and services

Sophos acquires Secureworks to strengthen its security services and technology worldwide. Secureworks shareholders will receive $8.50 per share, representing a 28 percent premium to the average share price over the last 90 days. The acquisition, to be completed by early 2025, is part of Sophos’ strategy to expand its market presence. Through this integration, Sophos plans to add identity detection and response (ITDR), enhanced risk prioritization and next-gen SIEM functionalities to its offerings, among others.

According to Sophos CEO Joe Levy, the combination of the two companies will lead to improved managed detection and response (MDR) and extended detection and response (XDR) solutions. The company plans to integrate technologies, such as Secureworks’ Taegis platform, with its own security portfolio. In doing so, Sophos aims to help customers combat complex cyber threats with AI-driven security and automated threat detection.

Broader offerings for customers

Secureworks offers extensive expertise in threat intelligence and incident response, while Sophos positions itself as a complete security services provider. Through this acquisition, both companies expect to improve their services for small, medium and large enterprises. Secureworks CEO Wendy Thomas emphasizes that the shared mission of both companies contributes to better security outcomes for customers worldwide.

The transaction is subject to customary conditions, including regulatory approval. Sophos is being advised in this deal by Kirkland & Ellis LLP as legal counsel and multiple financial parties for financing. Secureworks is receiving financial advice from Piper Sandler & Company and Morgan Stanley & Co. LLC.

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Sophos acquires Secureworks for $859 million