Sophos acquires Secureworks

Sophos' experience and reputation as a leading provider of managed security services and end-to-end security products, combined with Secureworks' security operations expertise brought to the Taegis platform, is expected to result in further complementary advanced MDR and XDR solutions that will benefit their global customers. Together, they will help strengthen the resilience and security posture of global organizations of all sizes with a combination of security controls, AI, world-class threat intelligence and two teams with decades of cybersecurity experience.

Sophos expects the two companies' solutions to be integrated into a broader and stronger security portfolio that will benefit small, medium and large organizations. This includes Sophos expanding its current portfolio with additional new offerings such as Identity Detection and Response (ITDR), next-generation SIEM capabilities, Operational Technology (OT) security and enhanced vulnerability prioritization. The combination of Sophos and Secureworks will expand the company's market presence to create greater value within the channel and strengthen the security community as a whole.

"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 joint position in the market and deliver better outcomes for organizations of all sizes worldwide," said Joe Levy, CEO of Sophos. "Secureworks' renowned expertise in cybersecurity fits perfectly with our mission to protect organizations from cybercrime by providing powerful and intuitive products and services. This acquisition is an important step in our commitment to a safer digital future for all."

Cyber risks continue to escalate, fueled by a proliferating ecosystem of cyber criminals and global geopolitical pressures. Together, Sophos and Secureworks have long had exceptional capabilities in threat intelligence, security operations, incident response and innovative security products to help organizations defeat these attackers.

"Our mission at Secureworks has always been to secure human progress. Sophos' portfolio of leading endpoint, cloud and network security solutions - combined with our XDR-powered Managed Detection and Response - is exactly what organizations are looking for to strengthen their security posture and collectively turn the tide against attackers," said Wendy Thomas, CEO, Secureworks. "Joe and I both believe this transaction will strengthen our market offering with Sophos' global scale, expertise and reputation."

Details of the transaction

Under the terms of the agreement, Sophos intends to acquire Secureworks in a cash transaction valued at $859 million. Secureworks shareholders, including Dell Technologies, will receive $8.50 per share in cash. This represents a premium of 28 % to the unaffected 90-day volume weighted average price (VWAP). The transaction is expected to close in early 2025, subject to customary closing conditions. Additional information regarding this announcement can be found in Secureworks' Form 8-K filed with the United States Securities and Exchange Commission (SEC) on October 21, 2024.

Kirkland & Ellis LLP is acting as legal advisor to Sophos and Goldman Sachs & Co. LLC, Barclays, BofA Securities, HSBC Securities (USA) Inc. and UBS Investment Bank are acting as financial advisors and providing debt financing for the transaction. Piper Sandler & Company and Morgan Stanley & Co. LLC are acting as financial advisors to Secureworks and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

Source: www.sophos.com

This article originally appeared on m-q.ch - https://www.m-q.ch/de/sophos-uebernimmt-secureworks/