Sophos to buy SecureWorks for $1.28bn
Cybersecurity company Sophos has arranged to acquire Secureworks in an all-cash deal worth around US$859 million ($1.28 billion).
The acquisition will see SecureWorks shareholders receive US$8.50 per share in cash for their holdings, which represents a 28% premium to the 90-day volume weighted average trading price of Secureworks shares. Pending approvals and other closing conditions, the transaction is expected to close in early 2025. SecureWorks is currently majority-owned by Dell, and has been operating as a Dell subsidiary since February 2011. The company expanded into Australia and New Zealand in 2013.
Sophos CEO Joe Levy said the company plans to integrate SecureWorks solutions, including its Taegis extended detection and response (XDR) solution, into its own security portfolio.
“Secureworks offers an innovative, market-leading solution with their Taegis XDR platform. 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,” he said. “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.”
Secureworks CEO Wendy Thomas added that the two companies share a commitment to using AI to automate prevention, detection and response to security threats.
“Our mission at Secureworks has always been to secure human progress. Sophos’s 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,” she said. “As Joe and I both believe, this transaction will strengthen our go-to-market offering with Sophos’s global scale, expertise and reputation.”
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