Will buy Cyberoam for reportedly Rs. 500 crore
UK-based anti-virus company Sophos is all set to buy Cyberoam Technologies for reportedly Rs. 500 crore. According to reports in some mainline newspapers global private equity firm Carlyle which owns 80% stake in the company is selling it off to Sophos.
Cyberoam, which was spun-off from Ahmedabad-based Elitecore Technologies, has 450+ employees with offices in USA, Middle East & India and its R&D and Global Support Management Centre in India. The remaining 20% stake is held by the owner Hemal Patel.
The network security appliances company offers security solutions like next-generation firewalls (NGFWs) and unified threat management (UTM) appliances, Cyberoam iView –Intelligent Logging and Reporting, Cyberoam Central Console (CCC), and Cyberoam NetGenie. With presence in more than 125 countries it has a channel network of 5500 resellers, with more than 65000 installations.
Sophos had bought Germany-based Astaro in 2011 which was the fourth largest UTM vendor. Its main strength has been in end point protection and remains among the top anti-virus providers and with the acquisition of Astaro and now Cyberoam, shows Sophos seriousness in playing into both network and host security spaces.
The UTM market is on a growth path displacing the traditional firewalls and expected to grow $3.7 billion in 2015 as per Frost & Sullivan.
