Sophos has closed its acquisition of Secureworks. With this acquisition, Sophos is now the leading pure-play cybersecurity provider of managed detection and response (MDR) services, supporting more than 28,000 organisations of all sizes worldwide. With the completion of the acquisition, Secureworks’ common stock has ceased trading on Nasdaq.
“Sophos’ broader portfolio will enable our collective global partner community to reach more customers and potential customers with enhanced enterprise capabilities, services and a security operations platform designed to scale for MSP/MSSP ecosystems and protect any size customer organisation,” said Sophos CEO Joe Levy.
“We will continue to work with both our channel partners, MSPs and MSSPs worldwide to ensure our collective customers, from both companies, have optimal cybersecurity outcomes now and as we work to integrate our solutions,” he added.
Under the terms of the agreement, Sophos acquired Secureworks in an all-cash transaction valued at approximately USD859 million. Secureworks shareholders, including Dell Technologies, will receive USD8.50 per share in cash. This represents a 28% premium to the unaffected 90-day volume-weighted average price.
The combination will allow Sophos to deliver a highly sophisticated security operations platform featuring hundreds of built-in integrations for adaptive protection, detection and response for mitigating cyberattacks. The open and scalable platform helps organisations, especially those with diverse IT estates, safeguard current and future technology investments, providing greater operational efficiencies and return on cybersecurity spend.
Sophos X-Ops is also expanding its threat intelligence and security services capabilities with the addition of the Secureworks Counter Threat Unit and security operations and advisory teams.
“The market is embracing MDR as a clear means to deliver positive cybersecurity outcomes, and this has meant rapid growth in the category,” said Levy. “Sophos is differentiated by our very mature competencies in ransomware detection, malware analysis and threat actor tradecraft. These defences are further augmented by Sophos’ native artificial intelligence, first innovated by our globally peer-recognised AI team nearly a decade ago, and embedded in our MDR, endpoint, network, email, and cloud security to more effectively neutralise and stop threats.””
“With the integration of Secureworks, our expanded services and product portfolio will provide even stronger end-to-end security solutions that will include identity threat detection and response, next-gen SIEM, and managed risk, all in a single open platform,” he added.
“We will also be able to further advance our AI, threat intelligence and attack research through more diverse and deeper global telemetry that is analyst-tuned for the real-world. At every level, we are very excited about this next accelerated chapter for Sophos.”
In the near term, Sophos and Secureworks are operating in business as usual mode, working with our respective channel partners, MSPs and MSSPs worldwide to distribute our existing security services and technology. Both companies’ sales and customer experience groups will operate to support existing customers, assist with renewals and develop current and new business opportunities.
