Thoma Bravo to buy Sophos for $3.9bn

US private equity firm Thoma Bravo has made an offer to acquire UK cyber security provider Sophos for $7.40 per share, representing an enterprise value of approximately $3.9 billion.

The board of directors of Sophos have stated their intention to unanimously recommend the offer to the company’s shareholders.

The FTSE250 company, based near Oxford, employs around 3,400 staff and will be Thoma Bravo's first acquisition outside the US.

With a 40-year history, it has acquired more than 200 software and technology companies representing more than $50 billion of value.

“Today marks an exciting milestone in the ongoing journey of Sophos,” said chief executive Kris Hagerman. “We continue to execute a highly-effective and differentiated strategy, and we see this offer as a compelling validation of Sophos, its position in the industry and its progress.”

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