Sophos bought up by investment firm

APAX Partners acquires major stake in $830 million company.

Sophos has announced that a majority share of the company will be sold to major private investment firm APAX Partners, in a deal which rates Sophos's value at $830 million.

APAX Partners has its fingers in a wide range of pies, including numerous telecoms and high-tech hardware firms, supermarkets, media organisations, logistics and construction companies and others, with clothing brand Tommmy Hilfiger among the more high-profile names on its lists.

The Sophos deal will hand over control of the firm from the former major stakeholders, who include company founders Dr Jan Hruska and Dr Peter Lammer as well as another investment firm, TA Associates, which injected cash into the company in 2002. No changes are anticipated in the day-to-day running of the company, with current CEO Steve Munford and other senior staff remaining in place.

The deal comes after several years of speculation over the future ownership of the company, following rumours of a planned stock market floatation in 2007. Details are in a Sophos press release here.

04 May 2010

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