(Reuters) – Forcepoint said on Monday buyout firm TPG would purchase its government cybersecurity business from parent Francisco Partners.
The deal’s financial terms were not disclosed. The deal was for $2.45 billion, the Wall Street Journal had reported over the weekend, citing people familiar with the matter.
Forcepoint, TPG and Francisco did not immediately respond to requests for details on the deal value.
The unit, Forcepoint Global Governments and Critical Infrastructure (G2CI), is focused on critical infrastructure for U.S. government and federal agencies.
The transaction will separate Forcepoint’s businesses to establish G2CI as an independent entity.
Francisco, which bought Forcepoint from Raytheon Technologies in 2021, will retain a minority stake in G2CI and will continue as a controlling shareholder in Forcepoint Commercial business, the software company said.
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shweta Agarwal)
