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Sophos Inc. is selling a majority ownership stake to UK-based private equity group Apax Partners, the data security, antivirus and anti-spam software company reports. The deal values Sophos, which is based in the U.K. with its U.S. headquarters in Burlington, at $830 million.
Boston private equity firm TA Associates is selling its entire minority stake in the transaction, according to a press release issued today. Sophos founders Jan Hruska and Peter Lammer will retain “significant stakes” in the company.
According to the press release, Sophos’ fiscal year ending Mar. 31 saw revenue over $260 million – up 22 percent over 2009 fiscal year’s $213 million revenue. The company generated unlevered free cash flow of about $55 million in fiscal 2010, it reported.
TA Associates invested $60 million in Sophos in 2002, at which point the company reported over $50 million in annual revenue. Sophos was founded in 1980 and entered the U.S. market in 1996. The company this year made the Boston Business Journal’s Pacesetters list of the 50 fastest-growing privately held companies in Massachusetts.
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