TPG has reached an agreement to purchase the Global Governments and Critical Infrastructure (G2CI) cybersecurity business of Forcepoint for an undisclosed sum.
The firm acquired Forcepoint G2CI through TPG Capital, its U.S. and European private equity platform.
Meanwhile, investment firm Francisco Partners will maintain a minority stake in Forcepoint G2CI and continue to own Forcepoint's Commercial business.
This is technology M&A deal number 270 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
TPG, founded in 1992, is based in San Francisco, California. The company has 1,895 employees listed on LinkedIn. TPG's areas of expertise include private and growth equity.
Forcepoint, founded in 1994, is based in Austin, Texas. The company has 2,192 employees listed on LinkedIn. Forcepoint's areas of expertise include data and network security.
What the Transaction Means for Forcepoint G2CI
Forcepoint G2CI will operate as an independent company "with the flexibility and resources to grow its platform as a comprehensive, next-generation cybersecurity provider for the defense, intelligence and critical national infrastructure industries," the business said.
In addition, Forcepoint G2CI President Sean Berg has been named CEO of the new company. Berg will focus on helping Forcepoint G2CI expand globally, the business indicated. Previously, Berg helped Forcepoint's G2CI business grow to become an industry leader in cross domain and insider threat solutions for government agencies.
Furthermore, Forcepoint G2CI has named Peter Leav as executive chairman of its board of directors. Leav most recently served as president of McAfee (a former TPG portfolio company).
Forcepoint's Commercial Business Continues to Eye MSSP Partnerships
MSSPs can join Forcepoint Commercial's global partner program to deliver secure access service edge (SASE), data loss prevention-as-a-service (DLPaaS) and other security services.
This program provides MSSPs with a pay-as-you-go subscription model, access to a management portal and other tools and resources.
