Worawut - stock.adobe.com
SAN FRANCISCO -- The completion of Thoma Bravo's acquisition of Sophos is imminent, SearchSecurity has learned.
In October, Thoma Bravo announced a cash offer of $3.9 billion for the endpoint security vendor, which was subject to shareholder approval. The Sophos acquisition is virtually closed, according to an individual with knowledge of the situation, though neither company has officially announced the completion.
Update: Sophos announced the completion of the acquisition Monday morning.
A Sophos spokesperson told SearchSecurity Friday that while the deal was "very close to completion," it had not officially closed. As of Friday, Sophos shares are still trading on the London Stock Exchange.
According to a report in the Financial Times Thursday, the Sophos acquisition has been held up over the vendor's participation in a government subsidized program encouraging employees to bicycle to Sophos' headquarters in Oxfordshire, U.K., which requires additional regulatory approval from the country's Financial Conduct Authority.
The addition of Sophos further strengthens Thoma Bravo's presence in the information security industry. The private equity firm currently owns Barracuda, Imperva, LogRhythm and Veracode, among other infosec vendors. Sophos executives, including CEO Kris Hagerman, attended Thoma Bravo's press event Tuesday at RSA Conference 2020.