TPG Inc (NASDAQ:TPG) plans to buy the government cybersecurity business unit of Forcepoint for $2.45 billion.
TPG is buying the unit known as Forcepoint Global Governments and Critical Infrastructure (Forcepoint G2CI) from Francisco Partners and can disclose the deals as soon as today, WSJ reported, citing a person familiar with the matter.
The unit focuses mainly on the U.S. government and federal agencies and commercial customers that sell directly to the government.
Per the report, this is double the price that the private-equity firm Francisco Partners paid for the Forcepoint buyout in 2021.
Post-acquisition, Francisco will maintain a minority interest in the unit and continue to operate Forcepoint’s commercial cybersecurity business as a separate entity, as per the report.
TPG has recently been on a buying spree. In April, TPG, along with AmerisourceBergen Corporation (NYSE:ABC), announced the acquisition of cancer services firm OneOncology from global growth equity company General Atlantic for $2.1 billion.
Related: Buyout Firms Team Up In $5B-Plus Bid To Buy New Relic: Report
Price Action: TPG shares are trading lower by 0.03% at $29.30 premarket on the last check Monday.
