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Private equity firm Apax Partners will spend $580 million on a 70 percent stake in Sophos, the security vendor announced on Tuesday. The hefty investment values the UK--based security company at $830 million.
Sophos focuses almost entirely on providing antivirus protection to businesses of all sizes, and according to Graham Cluley, the security vendor's senior technology consultant, not much will change as a result of the buyout.
"There won't be any job losses or any changes inside," Cluley said. "There will be the same management team."
Sophos had toyed with the idea of making an initial public offering (IPO) in 2007, but decided against doing so when the economy all but tanked. According to Cluley, Apax approached the company earlier this year with a more attractive offer than that of an IPO.
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