(Reuters) – Thoma Bravo said on Monday it would take Sophos Group private in a deal valuing the maker of antivirus and encryption products at about $3.8 billion, as the private equity firm dives deeper into the fast-growing cybersecurity sector.
Shares of the FTSE 250 company were seen up 30%, according to premarket indicators.
Sophos Group shareholders will get $7.40 per share in cash, which is 583 pence per share, representing a premium of 37% to the stock’s closing price on Friday.
“The global cybersecurity market is evolving rapidly, driven by significant technological innovation, as cyber threats to business increase in scope and complexity,” managing partner at Thoma Bravo Seth Boro said.
J.P. Morgan Cazenove, Lazard, and UBS AG London Branch were Sophos’ financial advisers and Goldman Sachs advised Thoma Bravo.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr)