StockMarketWire.com - US private equity group Thoma Bravo said it had agreed to acquire cybersecurity company Sophos for $3.82bn (£3.01bn).

Sophos shareholders would receive $7.40 in cash for each of their shares, or £5.83 based on the announcement exchange rate, representing a 37% premium to their closing price on Friday.

'It is the view of the Sophos board that this is a compelling offer for Sophos shareholders which secures the delivery of future value for shareholders today,' Sophos chairman Peter Gyenes said.

Thoma Bravo managing partner Seth Boro said the acquisition fits with the company's strategy of investing in and growing software and technology businesses globally.

'The global cybersecurity market is evolving rapidly, driven by significant technological innovation, as cyber threats to business increase in scope and complexity,' Boro said.

'Sophos has a market-leading product portfolio and we believe that, by applying Thoma Bravo's expertise, operational framework and experience, we can support the business and accelerate its evolution and growth.'

At 9:56am: [LON:SOPH] Sophos Group Plc share price was +152.1p at 577.6p



Story provided by StockMarketWire.com