Maxim Labkoski
Alternative Asset Manager TPG Inc. (Nasdaq: TPG) has agreed to acquire a unit of software provider Forcepoint from PE Francisco Partners for $2.45 billion, in a deal that could be announced as soon as Monday. The Wall Street Journal I mentioned Sunday.
TPG is reportedly buying Forcepoint’s government cybersecurity company, known as Forcepoint G2CI, which is focused on government and critical infrastructure customers, primarily US government and federal agencies.
Francisco Partners will retain a minority stake in the unit and will continue to own and operate Forcepoint’s commercial cybersecurity business as a separate entity, according to the report.
TPG (TPG) has a proven track record of supporting cybersecurity software companies, including investing in cybersecurity startup Zscaler, which went public in 2018.