Buyout firm TPG is set to acquire a business segment of software provider Forcepoint for $2.45 billion from Francisco Partners. The specific portion being acquired is Forcepoints' government cybersecurity division, Forcepoint Global Governments, and Critical Infrastructure. This division primarily focuses on critical infrastructure services for the U.S. government and federal agencies.
Francisco Partners, who purchased Forcepoint from Raytheon Technologies last year, will retain a minority ownership stake in this unit. The Wall Street Journal reported that Francisco Partners intends to maintain ownership and management of its commercial cybersecurity operations as a separate entity.
TPG and Francisco Partners declined requests for comment on the matter. While Forcepoint has yet to respond to inquiries. Headquartered in Austin, Texas, Forcepoint is recognized for developing computer security software, data protection solutions, and firewall technology. Currently, their government-oriented business contributes approximately $400 million annually in revenue. In April, sources revealed that Forcepoint was actively exploring the sale of its government's security unit for over $2 billion to concentrate on expanding its commercial operations.