Private equity firm TPG announced plans to acquire Forcepoint’s Global Governments and Critical Infrastructure (G2CI) business on Monday. The business was created in 2018 to act as Forcepoint’s government cybersecurity unit and will be spun out as an independent entity.
According to the Wall Street Journal, the deal is reportedly valued at around $2.5 billion. Francisco Partners purchased Forcepoint from Raytheon in 2021 for over $1 billion. They will retain a minority stake in the independent government cybersecurity unit following the sale to TPG. While announcing the deal, TPG said the G2CI unit will operate with greater freedom and focus going forward. This positions the unit to target defense, intelligence, and critical infrastructure markets worldwide. The deal is expected to close in the fourth quarter of 2023.
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