Sophos founders in £198m buyout deal

Antivirus company pulls IPO plans, opts for private equity

Sophos, the UK-based security and data protection firm has dropped plans for an IPO and has announced a deal to sell a majority interest in the company to private equity group Apax Partners.

Jan Hruska and Dr Peter Lammer, who co-founded the company in 1985, will sell a "substantial portion" of their equity in the company, but will maintain a significant stake in the ongoing operation, Sophos said. The two founders are to receive around $US300 million (£197 million) from the deal.

The company is significantly smaller than its main end-point security rivals Symantec and McAfee, but unlike them, Sophos only serves companies and organisations.

Ignoring the consumer market "seems to have stood it in good stead, as it has continued to grow through the downturn," said Philip Carnelley, analyst at TechMarketView. Analyst IDC estimates that the global end point security market is worth $3.1 billion a year and is growing by 9 percent annually.

Sophos provides anti-virus, anti-spyware, client firewall, host intrusion prevention, network access control, application control, device control, disk encryption and data leak prevention products. It claims more than 100 million users in more than 150 countries, with customers including Cisco, Marks and Spencer, Heinz and Harvard University.

Steve Munford, CEO of Sophos said, "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.

Apax's financial backing, combined with Sophos's 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. "

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionssophos

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Mike Simons

Unknown Publication
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?