Sophos has accomplished its $859 million acquisition of managed cyber safety providers supplier Secureworks in an all-cash transaction. It now claims to be the “main pure-play” supplier of Managed Detection and Response Companies, supporting greater than 28,000 international organisations.
Secureworks is an Atlanta, U.S.-based cybersecurity firm that focuses on menace detection, response, and managed safety providers. Its acquisition will construct out Sophos’ safety operations platform for mitigating cyber assaults.
“The open and scalable platform helps organizations, particularly these with various IT estates, safeguard present and future expertise investments, offering better operational efficiencies and return on cybersecurity spend,” Sophos mentioned in a press launch concerning the Secureworks acquisition.
Moreover, Sophos X-Ops, its menace intelligence unit, is increasing its capabilities with the addition of Secureworks’ Counter Risk Unit and safety operations and advisory groups.
SEE: IBM Acquires HashiCorp for $6.4 Billion, Increasing Hybrid Cloud Choices
“With the combination of Secureworks, our expanded providers and product portfolio will present even stronger end-to-end safety options that can embrace id menace detection and response (ITDR), next-gen SIEM and managed threat, all in a single open platform,” mentioned Sophos CEO Joe Levy, within the launch.
“We can even be capable to additional advance our AI, menace intelligence and assault analysis via extra various and deeper international telemetry that’s analyst-tuned for the real-world. At each degree, we’re very enthusiastic about this subsequent accelerated chapter for Sophos.”
Secureworks was acquired by Dell in 2011 for $612 million. Previous to this acquisition, it owned 79.2% of the corporate, however has been attempting to promote up for a lot of years. Secureworks has reportedly struggled to distinguish from different giant cyber safety suppliers, resulting in a lack of share worth.
In the meantime, U.Okay.-based Sophos posted turnover of £644 million in March 2024, marking 5.4% development, and noticed earnings double from £100.1 to £183.2. Levy mentioned that Sophos has managed to keep up dominance in MDR, partially, because of its “native synthetic intelligence” that it first developed almost a decade in the past. He additionally cited its “mature competencies in ransomware detection, malware evaluation and menace actor tradecraft.”
Dell and different Secureworks shareholders will obtain $8.50 per share in money within the acquisition, which was initially introduced final October. For now, each firms will proceed to function individually, supporting present purchasers and creating their very own new enterprise alternatives.
Cyber assaults have gotten an more and more major problem for companies as a result of rising sophistication of hackers that at the moment are augmented by AI, widespread digitization, and the rising worth of delicate knowledge. Consequently, cyber safety firms are in nice demand, and are competing to offer probably the most complete providing.
SEE: 99% of UK Companies Confronted Cyber Assaults within the Final Yr
In 2024, Cisco acquired Splunk, a knowledge analytics and safety platform, for $28 billion, whereas Mastercard acquired menace intelligence firm Recorded Future for $2.65 billion. U.S. personal fairness agency Thoma Bravo purchased AI safety agency Darktrace for $5.3 billion, after buying Sophos in 2020 for $3.9 billion.
To date this yr, 1Password, Tenable, WatchGuard, and Darktrace have all introduced acquisitions to increase their safety choices.
