Hello, Guest!
  • Thursday, November 21, 2024

Report: Forcepoint Mulls Government Security Unit Sale

Cybersecurity firm Forcepoint is looking to divest its government security unit for over $2 billion and is working with Citigroup on the potential sale as the company looks to focus on building up its commercial business, Reuters reported Wednesday.

Sources said no deal has been signed since discussions over the potential sale are still in the early phase.

Forcepoint’s U.S. government business, which secured a potential $89 million contract from the Department of Defense for security software in 2022, generates an annual revenue of approximately $400 million.

In January 2021, global investment firm Francisco Partners announced that it completed its acquisition of Forcepoint from Raytheon Technologies (NYSE: RTX). 

Forcepoint became Raytheon’s wholly owned business after the defense contractor purchased Vista Equity Partners‘ minority interest in the cybersecurity joint venture for $588 million during the fourth quarter of 2019.

Video of the Day

Related Articles

Forcepoint G2CI Adds Cybersecurity Veterans to Leadership Team; Sean Berg Quoted Executive Moves

Forcepoint G2CI Adds Cybersecurity Veterans to Leadership Team; Sean Berg Quoted

Forcepoint Global Governments and Critical Infrastructure has appointed five cybersecurity industry veterans to its leadership team nearly a month after it was acquired by global alternative asset management firm TPG (Nasdaq: TPG). Joseph Bell, former senior director of information security at Verisign, has joined Forcepoint G2CI as chief information security officer responsible for overseeing the

James Wallace Appointed Chief Legal Officer & General Counsel at Forcepoint G2CI Executive Moves

James Wallace Appointed Chief Legal Officer & General Counsel at Forcepoint G2CI

James Wallace, formerly executive director and general counsel at an RTX (NYSE: RTX) unit, has been named chief legal officer and general counsel at Forcepoint Global Governments and Critical Infrastructure, now part of TPG (Nasdaq: TPG), according to a LinkedIn post. He will oversee Forcepoint G2CI’s overall legal, governance and compliance functions. “I look forward

TPG Closes Purchase of Forcepoint’s Government Cyber Business; Sean Berg Named Forcepoint G2CI CEO M&A Activity

TPG Closes Purchase of Forcepoint’s Government Cyber Business; Sean Berg Named Forcepoint G2CI CEO

TPG (Nasdaq: TPG), a global alternative asset management firm, has finalized its acquisition of Forcepoint’s government-focused cybersecurity unit from investment firm Francisco Partners and appointed technology industry leader Sean Berg as CEO of the newly acquired business. Berg, most recently president of global governments and critical infrastructure cybersecurity segment at Forcepoint, will oversee the growth