Under new ownership Forcepoint will accelerate product development and growth
AUSTIN, Texas and WALTHAM, Mass. and SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Forcepoint, a leading provider of cybersecurity solutions that protects the critical data and networks of thousands of customers throughout the world, and Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, announced today that Francisco Partners has signed a definitive agreement to acquire Forcepoint from Raytheon Technologies.
“We have followed Forcepoint for years and have a deep appreciation for its outstanding portfolio of innovative security products,” said Brian Decker, Partner at Francisco Partners. “Security is an increasingly important strategic investment area for enterprises, creating significant opportunities for Forcepoint to continue to build upon its track record of success.”
“Executing divisional carve-outs has been a core focus of Francisco Partners since we founded the firm in 1999,” added Andrew Kowal, Partner at Francisco Partners. “We look forward to working with the Forcepoint management team to help the company realize its full potential as an independent company while delivering enhanced value to the company’s customers, partners, and the end users its products protect.”
Forcepoint offers a leading portfolio of cybersecurity solutions, helping enterprises worldwide monitor and protect networks, endpoints, data, and users. The company’s behavior-based solutions adapt to risk in real-time and are delivered through a cloud-native security platform that protects network users and cloud access, prevents confidential data from leaving the corporate network, and eliminates breaches caused by insiders. Thousands of customers in more than 150 countries trust Forcepoint to safeguard their organizations while driving digital transformation and growth and providing secure access that enables employees to create value.
“We are proud to have built an industry-leading portfolio of security products that protect our customers’ infrastructure, people, and data,” said Matt Moynahan, CEO of Forcepoint. “This transaction represents an exciting opportunity for Forcepoint to continue to innovate and drive growth with Francisco Partners. We believe that this partnership will help us to continue to invest in our products and organization while delivering increased value to our customers.”
Evan Daar, Principal at Francisco Partners, added, “Forcepoint has established a leadership position as a provider of cybersecurity solutions to customers around the world. We look forward to partnering with the Forcepoint team to further invest in the company’s cloud security portfolio.”
Debt financing for this transaction was provided by Credit Suisse. Paul Hastings LLP and Kirkland & Ellis acted as legal advisors to Francisco Partners. Barclays acted as exclusive financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to Raytheon Technologies. The transaction is subject to customary regulatory review.
Forcepoint is the global cybersecurity leader for user and data protection. Forcepoint’s behavior-based solutions adapt to risk in real-time and are delivered through a converged security platform that protects network users and cloud access, prevents confidential data from leaving the corporate network, and eliminates breaches caused by insiders. Based in Austin, Texas, Forcepoint creates safe, trusted environments for thousands of enterprise and government customers and their employees in more than 150 countries. For more information on Forcepoint, please visit www.forcepoint.com.
About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With 195,000 employees* and four industry-leading businesses – Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense – the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
*As of 4/3/20
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit franciscopartners.com.
Raytheon Technologies: Michele Quintaglie, corporatePR@rtx.com
Francisco Partners: Whit Clay and Dan Zacchei, firstname.lastname@example.org and email@example.com
Forcepoint: Joe Stunkard, firstname.lastname@example.org