Cybersecurity solutions company Sophos has signed a definitive agreement to acquire Secureworks in an all-cash transaction valued at approximately USD859 million.
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, next-gen SIEM capabilities, operational technology 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,” said Sophos CEO Joe Levy. “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. 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.”
“Our mission at Secureworks has always been to secure human progress,” said Secureworks CEO Wendy Thomas. “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.”
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. Subject to customary closing conditions, the transaction is expected to close in early 2025.
