Thoma Bravo Bids to Acquire Sophos

Credit: Thoma Bravo

Private equity firm Thoma Bravo has bid to acquire cybersecurity provider Sophos for $3.9 billion, the companies have disclosed. Sophos’s board accepted the deal, which is subject to shareholder approval.

The deal continues Thoma Bravo’s momentum buying up MSP-friendly technology companies that offer cybersecurity and business management tools.

Thoma Bravo also has ownership stakes in Barracuda Networks, ConnectWise, Continuum, SolarWinds, LogRhythm, McAfee and Veracode, among others.

Many of those firms have overlapping products and market focuses, which has occasionally triggered rumors that Thoma Bravo may roll up some of its portfolio assets. Still, such moves can be challenging since ownership stakes can often involve investments held in separate funds.

Meanwhile, Thoma Bravo faces plenty of competition in the M&A market. Insight Partners and Vista Equity Partners have also been buying up MSP- and cyber-focused businesses.

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