|Bid||563.60 x 0|
|Ask||564.80 x 0|
|Day's Range||560.09 - 568.00|
|52 Week Range||273.40 - 587.23|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||104.81|
|Earnings Date||Nov 6, 2019|
|Forward Dividend & Yield||0.04 (0.75%)|
|1y Target Est||6.11|
(Bloomberg) -- In the run-up to Brexit, the home of Alan Turing and Tim Berners-Lee is looking like a tech bargain.Overseas bidders have announced about $60 billion in deals for British tech companies since the vote to leave the European Union three years ago, according to data compiled by Bloomberg. In 2016, the number of deals surged to the highest since at least 1998 and have maintained a higher level than any of the measured years before the vote, peaking at more than 200 in 2018, the data show.And the dealmaking is not slowing down. U.S. private equity firm Thoma Bravo’s agreement to buy Sophos Group Plc for $3.8 billion on Monday was the largest deal for a British tech company since SoftBank Group Corp. agreed to buy Cambridge-based ARM Holdings for $32 billion in 2016.Dealmaking has been increasing steadily as big-spending buyout firms and U.S. tech companies came to shop in Cambridge and London.The country’s tech firms tend to generate a lot of revenue outside of their home markets. As the U.K. approaches an Oct. 31 deadline to leave the EU, this acts as a hedge against the pound falling further or British sales drying up. Sophos gets less than 12% of annual revenue from the U.K., with most sales coming from the U.S. and Germany, according to its last full-year report.Venture capital funds -- often raised in dollars -- have also found the U.K. attractive, even with the Oct. 31 deadline to leave the EU looming. In the first nine months of the year, U.K. companies reaped more than 7.4 billion pounds ($9.4 billion) compared to 7.8 billion pounds in all of 2018, according to a report this month by KPMG and Pitchbook.However, investors are keen not to overpay with Brexit looming. For deals announced this year, British tech firms have commanded an average premium of 24% compared to 41% in the U.S., according to data compiled by Bloomberg.To contact the reporter on this story: Amy Thomson in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The deal price, equal to $7.40 a share, is more than a third above the Sophos' recent closing prices in both U.S. and U.K. trading.
(Bloomberg) -- Private equity firm Thoma Bravo agreed to buy Sophos Group Plc for $3.8 billion, taking the British cybersecurity firm private in the biggest takeover of a U.K. technology firm this year.Thoma Bravo will pay $7.40 a share in cash, or 583 pence per share, representing a premium of 37.1% to its last closing price, the buyout firm said in a statement Monday. Shares jumped as much as 38% in London on Monday and traded at 576 pence at 10:34 a.m.The deal would be among the largest take-privates in the U.K. technology industry in recent years and marks the latest firm snapped up by a foreign buyer. Both semiconductor designer ARM and Imagination Technologies -- once flagship U.K.-listed companies -- have been bought by foreign investors.A weak U.K. pound has also fed into foreign buyers targeting local companies. Cross-border deals for U.K. companies jumped 66% in the third quarter compared to the same period in 2018, according to data compiled by Bloomberg.Thoma Bravo made an initial non-binding proposal in June 2019, Sophos Chief Executive Officer Kris Hagerman said in an interview after the announcement. Sophos hasn’t received any other offers, and the Thoma Bravo bid is the one that’s been presented and the one that the board is recommending to shareholders, he said.“We’ve been impressed with both their knowledge of the space and their experience with software and in cyber security,” Hagerman said. “That track record and that experience and that judgment of how do you partner with management teams” is a “compelling fit,” he said.Hagerman said the company is likely to continue with a similar strategy under their new ownership.Sophos also posted details on its financial performance for the first half of the year on Monday, and expects to report 9% constant currency billings growth for the six months to the end of September. In January, Sophos had blamed a challenging prior-year comparable for a “subdued” performance, causing the Abingdon, England-based company’s stock to sink to its lowest level in almost two years.The firm provides IT security to a range of clients as small as dentists and neighborhood stores. Its products are aimed at mid-market businesses with as many as 5,000 employees, but customers also include smaller companies that need to protect against cyberattacks.Thoma Bravo, which specializes in technology deals, bought Sophos’s rival Barracuda Networks Inc., in late 2017 in a deal valued at$1.6 billion.JPMorgan Chase & Co., Lazard Ltd. and UBS Group AG advised Sophos while Goldman Sachs Group Inc. worked for the bidder.(Adds CEO comments starting in the fourth paragraph.)To contact the reporters on this story: Giles Turner in London at firstname.lastname@example.org;Kit Rees in London at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Amy Thomson, Dinesh NairFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
OXFORD, United Kingdom, Oct. 08, 2019 -- Sophos (LSE: SOPH), a global leader in network and endpoint security, today announced availability of Sophos Cloud Optix on Amazon Web.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
BURLINGTON, Mass., Oct. 01, 2019 -- Sophos (LSE: SOPH), a global leader in network and endpoint security, today announced the availability of Sophos Managed Threat Response.
It might be of some concern to shareholders to see the Sophos Group plc (LON:SOPH) share price down 11% in the last...
Sophos (SOPH.L), a global leader in network and endpoint security, today announced that Gartner, Inc., has once again positioned Sophos as a Leader in its Magic Quadrant for Endpoint Protection Platforms1.
GREENVILLE, S.C. , Aug. 12, 2019 /PRNewswire/ -- SYNNEX Corporation (NYSE: SNX), a leading business process services company, today announced that it has expanded its cybersecurity portfolio with the ...
Sophos (SOPH.L), a global leader in network and endpoint security, has once again swept the CRN® Annual Report Card (ARC) awards, due to its innovation, product strength and channel leadership. For six consecutive years, Sophos has been voted the industry’s best in network security. For two years running, the company has been recognized as having the best endpoint security.
LAS VEGAS, Aug. 06, 2019 -- Sophos (LSE: SOPH), a global leader in network and endpoint security, today unveiled detailed threat research from SophosLabs on Baldr, an.
BURLINGTON, Mass., July 31, 2019 -- Sophos (LSE: SOPH), a global leader in network and endpoint security, announced today that CRN®, a brand of The Channel Company, has named.
Group revenue growth of 7% at constant currencyNext generation(1) billings(2) grew 43% at constant currency OXFORD, United Kingdom, July 12, 2019 -- Sophos Group plc (the.
After Sophos Group plc's (LON:SOPH) recent earnings announcement in March 2019, it seems that analyst forecasts are...
Sophos (SOPH.L), a global leader in network and endpoint security, today announced the findings of its global survey, The Impossible Puzzle of Cybersecurity, which reveals IT managers are inundated with cyberattacks coming from all directions and are struggling to keep up due to a lack of security expertise, budget and up to date technology. The survey polled 3,100 IT decision makers from mid-sized businesses in the US, Canada, Mexico, Colombia, Brazil, UK, France, Germany, Australia, Japan, India, and South Africa.
BOSTON, June 25, 2019 -- AWS re:Inforce -- Sophos (LSE: SOPH), a global leader in network and endpoint security, is previewing its next-generation cloud security innovations at.
(Bloomberg) -- Software maker CrowdStrike Holdings Inc. soared in its trading debut after raising $612 million in one of the biggest-ever initial public offerings for a cybersecurity company.Shares opened at $63.50 in New York and rose as much as 97% from their IPO price to $67. The stock closed up 71% to $58 on Wednesday. That valued the company at about $11.41 billion, almost quadruple its $3 billion valuation last June when it raised about $200 million in a private funding round.CrowdStrike sold 18 million shares on Tuesday at $34 each, above its already elevated target range, the company said in a statement confirming an earlier report by Bloomberg. The Sunnyvale, California-based company had marketed the shares for $28 to $30, a target range it had earlier raised from $19 to $23.Founded in 2011 by former McAfee Inc. executives, CrowdStrike makes software to protect clients from cyberattacks, including predicting and detecting potential hacks. Its clients include Amazon.com Inc. and HSBC Holdings Plc, according to its filings.CrowdStrike Chief Executive Officer George Kurtz said he expects continued interest in the company partly because of geopolitical events, which will prompt governments and businesses to review their security.“The stock is going to move.” Kurtz said. “We just need to stay focused on the long term -- protecting our customers from breaches.”Cyber RankingThe IPO is the fourth-largest by a cybersecurity firm, according to data compiled by Bloomberg. The largest was Avast Plc’s 602 million pound ($856 million) listing in London last year. The only other IPOs topping CrowdStrike’s were Gemalto NV’s 515 euro ($631 million) offering in 2004 and a 352 pound listing by Sophos Group Plc in London in 2015.CrowdStrike’s value approaches that of Symantec Corp. the maker of Norton antivirus software. Symantec, which went public in 1989 in a $16.5 million IPO, is currently valued at $11.86 billion.Some of CrowdStrike’s peers were buoyed by its gains. Carbon Black Inc. climbed as much as 4.4% while BlackBerry Ltd., which agreed to buy Cylance Inc. last year, was up as much as 8.1%.Like many in this year’s crop of tech companies going public, CrowdStrike is unprofitable. It reported a net loss of $140 million on revenue of $250 million for the year ended Jan. 31, compared with a net loss of $135 million on revenue of $119 million in the same period a year earlier, its filings with the U.S. Securities and Exchange Commission show.IPO WaveUber Technologies Inc.’s $8.1 billion offering is the year’s biggest, followed by smaller ride-hailing rival Lyft Inc.’s $2.34 billion IPO as well as the $2.9 billion listing by Avantor Inc., a chemical maker for the life sciences industry. Other tech-related listings this year have included Pinterest Inc. and Zoom Video Communications Inc. So far the results have been mixed for investors: While Lyft has crashed 19% from its offer price, Zoom Video remains the fourth-best performing U.S. IPO of 2019, with its shares up 185%.Slack Technologies Inc. is set to go public next week in an unusual direct listing that, according to people familiar with the matter, could value it at $16 billion to $17 billion. Other tech related companies considering IPOs include Peloton Interactive Inc., Postmates Inc. and WeWork Cos.CrowdStrike has said that it had raised $200 million in a funding round led by General Atlantic, Accel and IVP that valued the business at more than $3 billion. Alphabet Inc.’s growth equity arm CapitalG also took part in the fundraising. The company has raised more than $450 million since its founding, according to data compiled by Bloomberg.Because CrowdStrike’s Class B stock carry 10 votes per share compared to one each for Class A shares, executives directors and current investors will control about 75% of the voting rights of the company after the IPO, according to the filing.CrowdStrike’s IPO was led by Goldman Sachs Group Inc., JPMorgan Chase & Co., Bank of America Corp. and Barclays Plc. The company’s shares trade on the Nasdaq Global Select Market under the symbol CRWD.(Updates with CEO’s comments in fifth paragraph.)\--With assistance from Jeran Wittenstein, Ellen Huet and Sonali Basak.To contact the reporters on this story: Crystal Tse in Hong Kong at email@example.com;Liana Baker in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Fournier at email@example.com, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.