Telecom
Sophos to Acquire Secureworks in $859M Deal to Accelerate Cybersecurity Services
Sophos has entered into a definitive agreement to acquire Secureworks, the renowned developer behind the Taegis™ platform. The all-cash transaction is valued at approximately $859 million.
Sophos to Acquire Secureworks
Sophos’ experience and reputation as a leading provider of managed security services and end-to-end security products, combined with Secureworks’ security operations expertise transformed into the Taegis™ platform, is expected to further deliver complementary advanced MDR and XDR solutions for the benefit of their global customer bases.
Together, they will help strengthen the resilience and security posture of global organizations of any size with a combination of security controls, AI, world-class threat intelligence, and two teams with decades of cybersecurity expertise.
Sophos expects to integrate solutions from both companies into a broader and stronger security portfolio benefiting small, mid- and enterprise customers.
This includes Sophos expanding its current portfolio with other new offerings like identity detection and response (ITDR), next-gen SIEM capabilities, operational technology (OT) security, and enhanced vulnerability risk prioritization.
As two partner-centric organizations, the combination of Sophos and Secureworks will enable the combined company to expand its market presence to create greater value within the channel and strengthen the overall security community.
“Secureworks offers an innovative, market-leading solution with their Taegis XDR platform. Combined with our security solutions and industry leadership in MDR, we will strengthen our collective position in the market and provide better outcomes for organizations of all sizes globally, said Joe Levy, CEO of Sophos.
“Secureworks’ renowned expertise in cybersecurity perfectly aligns with our mission to protect businesses from cybercrime by delivering powerful and intuitive products and services.
“This acquisition represents a significant step forward in our commitment to building a safer digital future for all.”
Cyber risk continues to escalate, driven by a rampant cybercriminal ecosystem and global geopolitical pressures. Combined, Sophos and Secureworks share a long history of having exceptional threat intelligence, security operations, incident response, and innovative security product capabilities that help organizations defeat these adversaries.
“Our mission at Secureworks has always been to secure human progress.
“Sophos’ portfolio of leading endpoint, cloud, and network security solutions – in combination with our XDR-powered managed detection and response – is exactly what organizations are looking for to strengthen their security posture and collectively turn the tide against the adversary,” said Wendy Thomas, CEO, Secureworks.
“As Joe and I both believe, this transaction will strengthen our go-to-market offering with Sophos’ global scale, expertise and reputation.”
Transaction Details
Under the terms of the agreement, Sophos intends to acquire Secureworks in an all-cash transaction valued at $859 million. Secureworks shareholders, including Dell Technologies (NYSE:DELL), will receive $8.50 per share in cash. This represents a 28% premium to the unaffected 90-day volume-weighted average price (VWAP). The transaction is expected to close in early 2025, subject to customary closing conditions. Additional information regarding this announcement can be found in the Form 8-K filed by Secureworks with the United States Securities and Exchange Commission (SEC) on Oct. 21, 2024.
Kirkland & Ellis LLP is acting as legal counsel to Sophos and Goldman Sachs & Co. LLC., Barclays, BofA Securities, HSBC Securities (USA) Inc. and UBS Investment Bank are acting as financial advisors and providing debt financing for the transaction. Piper Sandler & Company and Morgan Stanley & Co. LLC are acting as financial advisors to Secureworks and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.
MTN Nigeria recently celebrated the graduation of the third cohort of its Media Innovation Programme (MIP), awarding a total of NGN 2.5 million in cash prizes to three outstanding fellows. The graduation ceremony took place at the Pan-Atlantic University in Ibeju-Lekki, highlighting MTN’s commitment to fostering innovation in the media sector.
Launched in partnership with the School of Media and Communication at Pan-Atlantic University, the MIP is designed to equip media professionals with essential skills in traditional journalism while emphasizing the importance of technology in storytelling. Over six-months, fellows engaged in a comprehensive curriculum that included topics such as media entrepreneurship, ICT in media, and ethical journalism.
During the graduation ceremony, three fellows were recognized for their exceptional contributions including the MTN Nigeria Chairman Award for Innovation awarded to Augustus Aigbe of Cool FM; the MTN Foundation Chairman Award for Innovative Reportage to Moninkanola Ogidan of Adaba 88.9FM, Akure and the MTN Award for Best Reporting awarded to Chiemelie Ezeobi from ThisDay Newspapers.
The Executive Director of MTN Foundation, Odunayo Sanya, emphasized the importance of the media innovation and adaptability in media, stating that these awards represent an investment in the future leaders of journalism. “At MTN, we believe a lot in excellence, which is why the partnership with Pan-Atlantic University is still ongoing. We recognise that the future of media lies in innovation and adaptability.
“These awards do not just celebrate the Fellows’ achievement; we are investing in the next generation of media leaders. In an era where digital platforms redefine how stories are told, media practitioners must be equipped with the skills and resources to thrive.”
Dr. Ikechukwu Obiaya, Dean of the School of Media and Communication, highlighted the significance of investing in future media professionals to drive positive societal change while maintaining ethical standards. “In recent times, technological innovation, social media, Artificial Intelligence and the likes have been viewed as dangerous, due to their misuse, although they are not in themselves bad.
“And this is one thing that drives our programs for media practitioners. Our vision is to train and equip competent and professional persons who will use these technological advancements and platforms as a means to contribute to the good of the society.”
The ceremony ended with the Class President, Nifemi Oguntoye expressing his gratitude towards MTN and Pan-Atlantic University for providing a transformative experience that fostered cultural diplomacy between Nigeria and South Africa. “We’ve had the privilege of learning from some of the best minds in the industry. The lessons learnt during our study trip, discussions and engagements have been invaluable. We are eternally grateful to Pan-Atlantic University and MTN for the commitment to empowering Nigerian journalists. A number of our colleagues look forward to having this experience in the next cohort and we know they will not be disappointed”, he said.
To date, MTN Nigeria has invested over NGN 300 million in the media. MIP not only aims to enhance the skills of individual practitioners but also seeks to contribute to a more robust media landscape capable of navigating the complexities of a digital economy projected to reach $18.3 billion by 2026. The event reflects MTN’s ongoing dedication to bridging the digital divide and enhancing media capabilities within Nigeria’s rapidly evolving landscape.
MTN Group and MTN Nigeria have expressed delight at participating in the 11th South Africa-Nigeria Bi-National Commission held in Cape Town on Tuesday, during which the strong bonds between the two countries were reinforced and plans were made to accelerate cooperation.
MTN Group CEO/President, Ralph Mupita and MTN Nigeria Chairman, Dr. Ernest Ndukwe with President Tinubu
The MTN delegation – led by Group President & CEO, Ralph Mupita, MTN Nigeria Chairman, Dr. Ernest Ndukwe and MTN Nigeria CEO, Karl Olutokun Toriola – was honoured to engage with President Bola Ahmed Tinubu on the sidelines of the meeting, which was hosted by South Africa’s Minister of Trade, Industry and Competition Hon Parks Tau.
MTN Nigeria is an important MTN subsidiary, accounting for some 27% of all MTN subscribers and some 23% of Group service revenue.
MTN has long established itself as a company that is a proud supporter of the Nigerian economy, remaining committed to contributing to the nation’s progress across several fronts.
“We believe in the Bi-National Commission’s objectives and the pivotal role of the digital economy in driving inclusive growth in Nigeria. We look forward to continuing our support for economic development initiatives,” says a MTN LinkedIn post.
Digital Realty Nigeria’s CEO, Engr. Ikechukwu Nnamani, has received a prestigious Presidential recognition from the Nigeria Internet Registration Association (NiRA) at the 7th .ng Awards.
Engr. Ikechukwu Nnamani
This accolade recognizes his significant contributions to the growth and evolution of Nigeria’s digital ecosystem over the past three decades.
“Nnamani was honored for his innovative spirit and leadership in shaping the future of the digital landscape,” said NiRA President, Adesola Akinsanya, while commending him and other awardees for their exceptional work in driving digital transformation in Nigeria.
A visibly humbled Nnamani dedicated the award to his dedicated team at Digital Realty Nigeria, acknowledging their pivotal role in the company’s success. He expressed gratitude to NiRA and the broader industry for recognizing his contributions.
This latest recognition adds to Nnamani’s impressive list of accolades, including the Lifetime Achievement Award at Africa’s Beacon of ICT Merit and Leadership Awards and the prestigious Titans of Tech Hall of Fame.
The 7th .ng Awards, a biennial event, celebrated the achievements of individuals and organizations that have made significant strides in Nigeria’s digital landscape.
The two-day event featured insightful discussions on emerging technologies, digital trends, and the role of the .ng domain in shaping Nigeria’s digital future.
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