Thomas Bravo to add Sophos into its cybersecurity stable with $3.8bn deal



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Thomas Bravo to add Sophos into its cybersecurity stable with $3.8bn deal

On Monday, the 14th of October 2019, US-based private equity and growth capital firm with headquarters in Chicago and San Francisco, Thomas Bravo LLC., had made an announcement saying that the buyout firm had been looking to add Sophos Group Plc., an Abingdon-based British security software and hardware company, into its cybersecurity chest at a $3.8 billion buyout deal.

Besides, the acquisition bid of $3.8 billion of the British architect of antivirus and encryption products, would value Sophos's shares price at 583 pence per share, representing a 37 per cent premium of Sophos's market closing price on last Friday (October 11th).

On top of that, followed by the reveal of the news, shares of London Stock Exchange-listed Sophos Group Plc., space-dived more than 37.50 per cent to £5.83 per share during pre-market trading on Monday (October 14th) before wrapping up the day 35.97 per cent higher to £5.78 per share, remarking its biggest intra-day gain ever in the public market trading.

Meanwhile, amid a fast-growing cyber-security market which had been evolving over the recent years, latest billion dollar buyout deal of antivirus maker Sophos, share prices of which had doubled up since it had listed its shares back in the 2015s, had hinted an altered landscape of the cyber-security industry, while adding that Sophos was first approached by Thomas Bravo earlier in June this year, Sophos CEO Kris Hagerman said following release of the buyout deal, "The (Sophos) board ultimately concluded that this offer and the acquisition can accelerate Sophos’ progress in next-generation cybersecurity. "