Raytheon Technology ‘private equity company Francisco Partners will buy cybersecurity technology firm Forcepoint, the companies reported Monday.
Terms of the deal have not been disclosed.
Forcepoint provides a portfolio of tools and services that help businesses track and lock down their networks, endpoints and records, with thousands of clients in more than 150 countries. In September 2018, the firm unveiled a new business unit focused on vital infrastructure.
After Raytheon and Websense announced a $1.9 billion agreement with Vista Equity Partners to create a joint business merging Websense with Raytheon Cyber Products, ForcePoint was founded in 2015 and released as a new brand in 2016. Websense was recently taken private for over $900 million by Vista in May 2013.
“We look forward to partnering with the management team of Forcepoint to help the company achieve its full potential as an independent company while providing greater value to the clients, investors, and end consumers of the company to secure its goods,” said Francisco Investors partner Andrew Kowal.
This acquisition represents an exciting opportunity for Forcepoint to continue with Francisco Partners to innovate and accelerate growth. We trust that this relationship will allow us to continue investing in our brands and companies while supplying our consumers with enhanced value.