Private equity firm invests in Sophos

5 May 2010

Apax Partners is to acquire a majority share in technology firm Sophos in a deal valuing the business at $830 million.

According to the data protection firm, the two founders, Jan Hruska and Peter Lammer, who created the business more than 25 years ago will retain “significant” stakes after the sale.

Sophos primarily works with data protection products including anti-virus and disk encryption applications.

Steve Munford, chief executive officer at Sophos, said that during the last three years the firm's revenue has grown at a rate of 27 per cent per year.

"As the market continues its migration from point solution to tailored, unified security suites, Sophos's strategy to offer the world's most resilient, cost effective solutions without any additional complexity remains key. Apax's financial backing, combined with
Sophos's deep understanding of security and data protection is great news for our customers, prospects, partners,” he explained.

Salim Nathoo, a partner in the Tech & Telecom team at Apax Partners, added that the firm is looking forward to working with Sophos.

“We identified the security software space as an attractive investment area for us given its rapid growth driven by ever increasing malware threats and high barriers to entry,” he explained.

Sophos has more than 100 million users of its software.

By Jim Ottewill

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