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Major British cyber security software firm Sophos has announced its acquisition of US cyber security company Secureworks in an US$859 million (A$1.3 billion) deal.
Now formerly Dell-owned, Secureworks is best known for its Taegis cloud-native security platform, which makes use of analytics and machine learning to identify hidden threats as well as prioritise higher-risk threats.
Sophos said the acquisition of Secureworks will see it integrate solutions from both firms and deliver its customers a stronger security portfolio, which is currently made up of its identity detection and response (ITDR), next-gen SIEM capabilities, operation technology (OT) and enhanced vulnerability risk prioritisation.
“Secureworks offers an innovative, market-leading solution with [its] Taegis XDR platform. Combined with our security solutions and industry leadership in MDR, we will strengthen our collective position in the market and provide better outcomes for organisations of all sizes globally,” said Sophos CEO Joe Levy.
“Secureworks’ renowned expertise in cyber security perfectly aligns with our mission to protect businesses from cyber crime by delivering powerful and intuitive products and services. This acquisition represents a significant step forward in our commitment to building a safer digital future for all.”
The Sophos-Secureworks deal will be a US$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 cash per share in the deal, which is expected to be finalised and closed in early 2025.
“Our mission at Secureworks has always been to secure human progress. Sophos’ portfolio of leading endpoint, cloud, and network security solutions – in combination with our XDR-powered managed detection and response – is exactly what organisations are looking for to strengthen their security posture and collectively turn the tide against the adversary,” said Secureworks CEO Wendy Thomas.
“As Joe and I both believe, this transaction will strengthen our go-to-market offering with Sophos’ global scale, expertise and reputation.”
Secureworks was previously purchased for US$612 million by Dell in 2011, with its shares being listed in an initial public offering in New York in 2016.
Earlier this year, Thoma Bravo acquired Darktrace for US$5.3 billion as part of its efforts to build a portfolio of cyber firms.
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