Maksim Labkouski
Alternative asset manager TPG Inc. (NASDAQ:TPG) has agreed to acquire a unit of software provider Forcepoint from P-E firm Francisco Partners for $2.45B, in a deal that could be announced as soon as Monday, The Wall Street Journal reported Sunday.
TPG reportedly is buying is Forcepoint’s government cybersecurity business, known as Forcepoint G2CI, which focuses on government and critical infrastructure customers, primarily U.S. government and federal agencies.
Francisco Partners would retain a minority stake in the unit and continue to own and manage Forcepoint’s commercial cybersecurity business as a separate entity, according to the report.
TPG (TPG) has a track record of backing cybersecurity software companies, including an investment in cybersecurity startup Zscaler, which went public in 2018.