Global security company Forcepoint announced it has signed a definitive agreement to sell the company’s Global Governments and Critical Infrastructure (G2CI) business to TPG, a global alternative asset management firm.
The transaction will separate Forcepoint’s Commercial and G2CI businesses and will establish G2CI as an independent entity.
The deal also enables Forcepoint G2CI to operate with greater flexibility and focus, positioning the new company to grow its platform as a comprehensive, next-generation cybersecurity provider for defense, intelligence and critical national infrastructure organizations across the globe.
TPG will invest in Forcepoint G2CI through TPG Capital, the firm’s U.S. and European late-stage private equity platform.
Francisco Partners, a global investment firm that specializes in partnering with technology businesses, acquired Forcepoint in January 2021 from Raytheon Technologies. The Forcepoint Commercial business, focused on simplifying security through a Data-first SASE approach to cloud-delivered security and connectivity, will continue to be owned by Francisco Partners and its existing co-investors.
Forcepoint G2CI brings more than 20 years of expertise supporting complex missions and objectives undertaken by the people who protect national security and mission-critical information. It has been a Global Cross Domain Solutions market leader for more than two decades, with the Forcepoint Trusted Thin Client and High-speed Guard offerings among the widest deployed access solutions within the DoD, IC, and federal government.
The transaction is expected to close in the fourth quarter.
Citi and Barclays served as financial advisors to Forcepoint and Francisco Partners. Paul Hastings LLP served as legal advisor to Forcepoint and Francisco Partners. Piper Sandler served as financial advisor to TPG, and Davis Polk & Wardwell LLP served as legal counsel.