Sophos has agreed to acquire Secureworks in an all-cash transaction valued at $859 million, combining their cybersecurity expertise to deliver enhanced MDR and XDR solutions. The acquisition will strengthen Sophos’ global security offerings, providing new capabilities like ITDR and next-gen SIEM to customers of all sizes.
22 October 2024 – Sophos, a global leader in cybersecurity solutions, has entered into a definitive agreement to acquire Secureworks® for approximately $859 million in an all-cash deal. The acquisition is backed by Thoma Bravo, a prominent software investment firm. This strategic move is expected to enhance Sophos’ capabilities by integrating Secureworks’ expertise in security operations, specifically the Taegis™ platform, into its comprehensive managed security services portfolio.
The combination of Sophos’ leadership in managed detection and response (MDR) and Secureworks’ advanced Taegis™ extended detection and response (XDR) platform will allow the newly unified company to deliver a robust set of cybersecurity solutions to customers of all sizes. The partnership aims to strengthen global security resilience by providing a powerful mix of AI-driven security controls, threat intelligence, and decades of expertise in combating cyber threats.
Sophos plans to expand its product offerings to include new innovations in identity detection and response (ITDR), next-gen SIEM solutions, operational technology (OT) security, and enhanced vulnerability risk prioritization. The collaboration between the two organizations is also expected to increase market presence, enhancing value for channel partners and customers alike.
Joe Levy, CEO of Sophos, emphasized the strategic benefits of the acquisition, stating that Secureworks’ Taegis XDR platform aligns perfectly with Sophos’ mission to safeguard businesses from cybercrime. Wendy Thomas, CEO of Secureworks, added that the merger combines their strong XDR capabilities with Sophos’ leading security solutions, helping organizations globally improve their cybersecurity defenses.
The acquisition agreement includes a payout of $8.50 per share to Secureworks shareholders, a 28% premium on the company’s 90-day volume-weighted average price (VWAP). The transaction, pending customary regulatory approvals, is expected to close in early 2025. Additional details have been provided in Secureworks’ Form 8-K filed with the U.S. Securities and Exchange Commission.
