Second time Secureworks is acquired, after UK’s Sophos says it will buy the US cybersecurity firm for $859m (£662m) in cash

UK cybersecurity firm Sophos is to acquire one of its cybersecurity rivals based in the United States.

Sophos announced the ‘exciting news’ that it is to acquire Atlanta-based Secureworks from its current owner Dell, in an all-cash transaction valued at approximately $859 million or £662 million.

Sophos is headquartered in Abingdon near Oxford, and is backed by a US private equity group, after Thoma Bravo had purchased it for £3.1 billion in October 2019.

Sophos acquires Secureworks

The American private equity firm is expanding its cybersecurity acquisitions.

Earlier this year, Thoma Bravo agreed to buy Cambridge-based cybersecurity firm Darktrace for $5.32 billion.

Sophos meanwhile was founded in 1985 and went public in June 2015 on its third attempt. The firm was key in aiding the NHS and other organisations during the WannaCry malware attack that disrupted businesses worldwide in 2017.

Sophos said it intends to integrate solutions from both companies into a broader and stronger security portfolio for all small, mid- and enterprise customers.

This includes Sophos expanding its current portfolio with other new offerings like identity detection and response (ITDR), next-gen SIEM capabilities, operational technology (OT) security, and enhanced vulnerability risk prioritisation.

“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, said Joe Levy, CEO of Sophos.

“Secureworks’ renowned expertise in cybersecurity perfectly aligns with our mission to protect businesses from cybercrime by delivering powerful and intuitive products and services,” said Levy. “This acquisition represents a significant step forward in our commitment to building a safer digital future for all.”

Second time

This is now the second time that Secureworks has been acquired in the span of 14 years.

Current owner Dell had acquired Secureworks for $612 million back in 2011 before listing its shares through an initial public offering in New York in 2016. The PC maker had earlier explored a sale of Secureworks in 2019.

“Our mission at Secureworks has always been to secure human progress,” added Wendy Thomas, CEO, Secureworks. “Sophos’ 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.”

“As Joe and I both believe, this transaction will strengthen our go-to-market offering with Sophos’ global scale, expertise and reputation,” Thomas concluded.

There was no word at the time of writing about any ‘operational efficiencies’ (aka job losses) that could be achieved from the combination of the two organisations.

The transaction is expected to close in early 2025.