Sophos acquires Secureworks for $1.3 billion
Major UK cybersecurity software company Sophos has announced its acquisition of US cybersecurity company Secureworks in a US$859 million (A$1.3 billion) deal.
Now owned by Dell, Secureworks is best known for its cloud-native Taegis security platform, which uses analytics and machine learning to identify hidden threats and prioritize higher-risk threats.
Sophos said the acquisition of Secureworks will allow it to integrate the two companies’ solutions and offer its customers a stronger security portfolio, which is currently made up of its Identity Detection and Response (ITDR), its next-generation SIEM capabilities, its operations technology (OT) and better prioritization of vulnerability risks.
“Secureworks offers an innovative and market-leading solution with [its] Taegis XDR platform. By combining our security solutions and MDR leadership, we will strengthen our collective market position and deliver better outcomes for organizations of all sizes around the world,” said Joe Levy, CEO of Sophos.
“Secureworks’ recognized expertise in cybersecurity aligns perfectly with our mission to protect businesses against cybercrime by offering powerful and intuitive products and services. This acquisition represents a significant step forward in our commitment to building a more secure digital future for all.
The Sophos-Secureworks deal will represent an $859 million all-cash transaction, with Sophos backed by software investment firm Thoma Bravo.
Secureworks shareholders, including former owner Dell Technologies, will receive $8.50 in cash per share under the deal, which is expected to be finalized and closed in early 2025.
“Our mission at Secureworks has always been to ensure human progress. The Sophos portfolio of leading endpoint, cloud and network security solutions – in combination with our XDR-based managed detection and response – is exactly what organizations are looking for to strengthen their security posture and collectively turn the tide against the adversary,” Secureworks said. Wendy Thomas, CEO.
“As Joe and I believe, this transaction will strengthen our go-to-market offering with Sophos’ global scale, expertise and reputation.
Secureworks was previously purchased for $612 million by Dell in 2011, and its shares were listed in an IPO in New York in 2016.
Earlier this year, Thoma Bravo acquired Darktrace for $5.3 billion as part of its efforts to build a portfolio of cyber companies.
