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Home News

TPG Acquires Forcepoint’s Global Governments

July 11, 2023
Reading Time: 2 mins read
in News

 

Private equity firm TPG has announced its plans to acquire Forcepoint’s Global Governments and Critical Infrastructure (G2CI) business unit in a deal valued at approximately $2.5 billion.

The G2CI unit, originally established in 2018 as Forcepoint’s government cybersecurity division, will be spun out as an independent entity, focusing on enhancing the company’s data-first Secure Access Service Edge (SASE) offering with new capabilities and third-party integrations.

Francisco Partners, the previous owner of Forcepoint, will retain a minority stake in the government-focused unit while continuing to operate Forcepoint’s commercial cybersecurity business separately.

While the official price tag of the deal was not disclosed, the Wall Street Journal estimates it to be around $2.45 billion, more than double what Francisco Partners paid for Forcepoint in 2021.

TPG’s acquisition aims to provide the Forcepoint G2CI unit with increased flexibility and focus, enabling it to target the defense, intelligence, and critical national infrastructure markets on a global scale.

The G2CI unit initially focused on securing industrial control systems (ICS) in sectors such as energy, oil and gas, and critical manufacturing, offering behavior-based security products tailored for industrial environments and providing enhanced visibility into potential threats facing ICS networks.

The transaction is still subject to regulatory review and is expected to be finalized in the fourth quarter of 2023.

Reference:
  • TPG to buy Forcepoint’s government cyber unit in $2.45 billion deal, sources say
Tags: Cyber NewsCyber News 2023CyberattackCybersecurityG2CIGovernmentICSJuly 2023TPG
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