By Sabela Ojea
SecureWorks has agreed to be acquired by U.K.-based competitor Sophos in an all-cash transaction valued at $859 million.
The security solutions companies on Monday said they reached a definitive agreement for the sale of SecureWorks under which SecureWorks shareholders, including Dell Technologies, would receive $8.50 per share in cash.
The price of the takeover represents a 28% premium to the unaffected 90-day volume-weighted average price.
The transaction is expected to close in early 2025, subject to customary closing conditions
Overall, Sophos intends to integrate solutions from both companies into a broader and stronger security portfolio for all small, mid- and enterprise customers, the companies said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 21, 2024 09:17 ET (13:17 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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