M&A Deal Summary

Investcorp and Apax Acquire Sophos

On May 3, 2010, asset manager Investcorp and private equity firm Apax acquired information technology company Sophos from TA Associates for 830M USD

Acquisition Highlights
  • This is Investcorp’s 8th and Apax’s 7th transaction in the Information Technology sector.
  • This is Investcorp’s 3rd and Apax’s 28th largest (disclosed) transaction.
  • This is Investcorp’s 12th and Apax’s 22nd transaction in the United Kingdom.
Investment Fate
  • Sophos went public in 2015.
  • Sophos was sold to a financial buyer in 2019 for 3.9B USD.

M&A Deal Summary

Date 2010-05-03
Target Sophos
Sector Information Technology
Buyer(s) Investcorp
Apax
Sellers(s) TA Associates
Deal Type Secondary Buyout
Deal Value 830M USD

Target

Sophos

Abingdon, United Kingdom
Sophos' office building in North Sydney, Australia.
Sophos' office building in North Sydney, Australia.
Sophos is a provider of information technology security and data protection solutions. Sophos' cloud-native and AI-enhanced solutions secure endpoints (laptops, servers and mobile devices) and networks against evolving cybercriminal tactics and techniques, including automated and active-adversary breaches, ransomware, malware, exploits, data exfiltration, phishing, and more. Sophos was founded in 1985 and is based in Abingdon, United Kingdom.

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Buyer(S) 2

Buyer

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 87 of 187
Sector (Information Technology) 8 of 19
Type (Secondary Buyout) 25 of 60
Country (United Kingdom) 12 of 24
Year (2010) 4 of 8
Size (of disclosed) 3 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-21 ATD

Huntersville, North Carolina, United States

ATD is a supplier of tires to the replacement tire market. It operates more than 130 distribution centers, including 24 distribution centers in Canada, serving approximately 80,000 customers across the U.S. and Canada. ATD was established in 1935 and is based in Huntersville, North Carolina.

Sell $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-10 Magnum Semiconductor

Milpitas, California, United States

Magnum Semiconductor, Inc. is a provider of silicon ICs, SoCs, software and IP for the professional video broadcast and IoT camera markets.

Buy -
Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 127 of 265
Sector (Information Technology) 7 of 30
Type (Secondary Buyout) 17 of 67
Country (United Kingdom) 22 of 36
Year (2010) 1 of 6
Size (of disclosed) 28 of 54
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-01 Bezeq

Holon, Israel

Bezeq is a telecommunications company. Bezeq’s Fixed Line business provides core telephony services and high-speed Internet infrastructure. Bezeq’s mobile subsidiary, Pelephone, offers cellular voice services and products. Bezeq International provides broadband internet services, international long distance, and owns the leading Israeli web portal Walla!. Bezeq was founded in 1980 and is based in Holon, Israel.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-10 Tivit

São Paulo, Brazil

Tivit is an integrated services provider of ITM (Information Technology Management) and BPM (Business Process Management) supporting their customers' growth and success. With an extensive service portfolio and a consulting approach, the company designs innovative operating solutions. Tivit was formed in 2005 and is based in São Paulo, Brazil.

Buy -

Seller(S) 1

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 139 of 256
Sector (Information Technology) 12 of 21
Type (Secondary Buyout) 13 of 49
Country (United Kingdom) 4 of 11
Year (2010) 2 of 5
Size (of disclosed) 15 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-14 Aurora Networks

Santa Clara, California, United States

Aurora Networks is the only pure-play optical transport solution provider focused solely on cable network operators. The company’s broad array of optical network products and technology includes optical transmitters, node platforms and Ethernet equipment that deliver enhanced services and greater bandwidth to subscribers while reducing the cable operator’s total cost of ownership.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-26 PowerBar

Glendale, California, United States

PowerBar was created by athletes, for athletes. Company started PowerBar to help athletes reach their goals by providing nutrition tools for optimum athletic performance.

Sell -