Forcepoint to sell global governments and critical infrastructure unit to TPG
Computer security software giant Forcepoint announced a definitive agreement to divest its Global Governments and Critical Infrastructure (G2CI) business to alternative asset management firm TPG.
The transaction, whose financial details remain undisclosed, will separate the company’s commercial and G2CI entities, making the latter an independent entity. This move aims to give Forcepoint G2CI more flexibility and focus to expand its platform and cement its position as a comprehensive, next-generation cybersecurity provider for global defense, intelligence, and critical infrastructure organizations.
The deal is slated to conclude in Q4 2023, contingent on regulatory approval and standard closing conditions. The investment in Forcepoint G2CI will be handled through TPG Capital, TPG’s late-stage private equity platform in the U.S. and Europe.
Tim Millikin — TPG partner said: “Today’s operating environment – one in which data volumes are compounding, attack surfaces are broadening, and threats are growing in sophistication – demands dynamic security solutions.
“This is especially true for the public sector, and Forcepoint has designed its platform to address the unique complexities of government objectives and culture. We’re excited to partner with Sean and the G2CI team to expand the platform and further its position as a leader in high assurance, zero trust security.”
Forcepoint’s commercial operations, which aim to simplify security through a Data-first SASE approach to cloud-delivered security and connectivity, will continue under the ownership of Francisco Partners and its existing co-investors. Francisco Partners, a global investment firm specializing in technology partnerships, purchased Forcepoint in January 2021 from Raytheon Technologies.
With over two decades of expertise in supporting the complex missions of those safeguarding national security and mission-critical information, Forcepoint G2CI is a global leader in Cross Domain Solutions. Its offerings, including Forcepoint Trusted Thin Client and High Speed Guard, are among the most widely deployed access solutions within the DoD, IC, and Civilian Federal Government.
Sean Berg — Forcepoint Global Governments and Critical Infrastructure President said: “It’s our mission to support the national security and intelligence communities by providing trusted, data-driven security solutions that enable them to collaborate and conduct mission-critical work securely and effectively.
“TPG has a long history of carving-out, building, and scaling world-class cybersecurity companies. We’re confident that this partnership, along with continued support from Francisco Partners, will provide us the resources and expertise to strengthen our position as a partner of choice for government agencies.”