Internet security firm Sophos has completed the acquisition of SecureWorks in an all-cash deal valued at $859 million. As a result, Secureworks’ common stock has ceased trading on Nasdaq.
With this acquisition, Sophos becomes the leading cybersecurity provider of Managed Detection and Response (MDR) services, serving over 28,000 organisations worldwide.
The deal expands Sophos X-Ops by adding Secureworks’ Counter Threat Unit and security operations teams, enhancing its threat intelligence and security services.
Sophos will integrate Secureworks’ capabilities into its security operations platform, which includes AI-driven threat detection and response solutions.
Under the financial terms, Secureworks shareholders, including Dell Technologies, will receive $8.50 per share in cash, representing a 28% premium to the unaffected 90-day volume-weighted average price.
Kirkland & Ellis LLP acted as legal counsel for Sophos, while Piper Sandler & Company and Morgan Stanley advised Secureworks. Multiple banks, including Goldman Sachs and BofA Securities, provided debt financing for the transaction.
