Slaughter and May is advising Sophos Group PLC on a recommended cash offer for Sophos’ entire issued and to be issued share capital by Surf Buyer Limited, a company formed on behalf of funds managed and/or advised by Thoma Bravo LLC. The offer was announced on 14 October 2019.
Under the offer, each Sophos shareholder will be entitled to receive US$7.40 in cash for each Sophos share, representing an enterprise value of approximately US$3.9 billion. The transaction is to be effected by court-sanctioned scheme of arrangement and is expected to complete in Q1 2020.
Sophos is a global leader in next-generation cybersecurity, protecting over 400,000 organisations in more than 150 countries from today’s most advanced cyberthreats. Sophos listed on the London Stock Exchange in 2015.
Thoma Bravo is a leading private equity firm focused on the software and technology enabled services sector with more than $35 billion in investor commitments.