Sophos to acquire Secureworks for $ 859 m

Thursday, 7 November 2024 02:03 - - {{hitsCtrl.values.hits}}

Move to accelerate cybersecurity services and technology for organisations worldwide

Sophos CEO Joe Levy

Sophos and Secureworks, two global leaders of innovative security solutions for defeating cyberattacks, recently announced a definitive agreement for Sophos to acquire Secureworks. The all-cash transaction is valued at approximately $ 859 million.

Sophos is backed by Thoma Bravo, a leading software investment firm.

Sophos’ experience and reputation as a leading provider of managed security services and end-to-end security products, combined with Secureworks’ security operations expertise, transformed into the Taegis platform, is expected to further deliver complementary advanced MDR and XDR solutions for the benefit of their global customer bases. Together, they will help strengthen the resilience and security posture of global organisations of any size with a combination of security controls, AI, world-class threat intelligence, and two teams with decades of cybersecurity expertise.

Sophos expects to integrate solutions from both companies into a broader and stronger security portfolio benefiting small, mid and enterprise customers. This includes Sophos expanding its current portfolio with other new offerings like identity detection and response (ITDR), next-gen SIEM capabilities, operational technology (OT) security, and enhanced vulnerability risk prioritisation. As two partner-centric organisations, the combination of Sophos and Secureworks will enable the combined company to expand its market presence to create greater value within the channel and strengthen the overall security community.

“Secureworks offers an innovative, market-leading solution with their 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 cybersecurity perfectly aligns with our mission to protect businesses from cybercrime 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.”

Cyber risk continues to escalate, driven by a rampant cybercriminal ecosystem and global geopolitical pressures. Combined, Sophos and Secureworks share a long history of having exceptional threat intelligence, security operations, incident response, and innovative security product capabilities that help organisations defeat these adversaries.

“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.”