Forcepoint To Sell Global Governments And Critical Infrastructure Business To TPG
(RTTNews) - Security company Forcepoint announced Monday it has signed a definitive agreement to sell its Global Governments and Critical Infrastructure (G2CI) business to TPG, a global alternative asset management firm.
The transaction will separate Forcepoint's Commercial and G2CI businesses and will establish G2CI as an independent entity.
The transaction will enable Forcepoint G2CI to operate with greater flexibility and focus, positioning the new company to grow its platform as a comprehensive, next-generation cybersecurity provider for defense, intelligence, and critical national infrastructure organizations across the globe.
TPG will invest in Forcepoint G2CI through TPG Capital, the firm's U.S. and European late-stage private equity platform.
Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, acquired Forcepoint in January 2021 from Raytheon Technologies. The Forcepoint Commercial business will continue to be owned by Francisco Partners and its existing co-investors.
The transaction, subject to regulatory review and customary closing conditions, is expected to close in the fourth quarter of 2023.
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