Francisco Partners to Buy Raytheon Technologies' Forcepoint Subsidiary; Matthew Moynahan Quoted

Global investment firm Francisco Partners has agreed to acquire cybersecurity platforms provider Forcepoint from Raytheon Technologies (NYSE: RTX) for an undisclosed sum.

“This transaction represents an exciting opportunity for Forcepoint to continue to innovate and drive growth with Francisco Partners,” Forcepoint CEO Matthew Moynahan said in a statement published Monday.

“We believe that this partnership will help us to continue to invest in our products and organization while delivering increased value to our customers,” Moynahan added.

Forcepoint offers behavior-based systems and other cybersecurity products delivered via a cloud-native platform designed to protect network users and critical data from cyber threats.

Credit Suisse provided debt financing for the transaction, which is subject to regulatory review.

Paul Hastings LLP and Kirkland & Ellis served as legal advisers to Francisco Partners in the deal. Barclays acted as Raytheon Technologies’ exclusive financial adviser, while Davis Polk & Wardwell LLP advised the company on the transaction’s legal aspect.

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