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Sophos Sale to PE Firm Thoma Bravo: Slightly Delayed?

Thoma Bravo’s acquisition of cybersecurity firm Sophos has been slightly delayed because of an eleventh-hour complication, though the sale is still expected to go through without any major hitches.

Update: The deal has been finalized as of March 2, Thoma Bravo and Sophos say.

The deal was expected to be finalized on Thursday, February 27. But a slight delay┬áinvolves the Financial Conduct Authority taking a last-minute look at the deal, according to Financial Times, because of tax implications tied to subsidized bicycle purchases. Yes, bicycles. The bikes were purchased to “encourage staff to cycle to work at its leafy Oxfordshire headquarters,” FT reports.

Private equity firm Thoma Bravo bid to acquire Sophos in October 2019. The deal is the latest in a long string of Thoma Bravo investments across the IT management, cybersecurity and MSP software markets. The private equity firm’s holdings include Barracuda, ConnectWise and SolarWinds, among many others.

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