Apax To Buy Sophos for $830 Million

BOSTON (Reuters) – Sophos, the biggest privately held security software maker, has agreed to sell a majority stake to private equity firm Apax Partners, ditching efforts to take itself public.

The deal values the British company at about $830 million, Sophos spokesman Mike Haro said on Monday. He said he could not provide other details on the transaction.

Sophos, whose anti-virus software for corporations competes with programs from Symantec Corp (SYMC.O) and McAfee Inc (MFE.N), pulled an initial public offering attempt from the London Stock Exchange at the end of 2007. Last year company executives told Reuters that they planned to take the company public in the United States during 2010. (Reporting by Jim Finkle; Editing by Tim Dobbyn)

peHUB Note: TA Associates, a minority shareholder in Sohpos, will sell its stake as part of this transaction.