TPG Completes Acquisition of Forcepoint Global Governments and Critical Infrastructure Cybersecurity Business from Francisco Partners
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- Transaction marks next chapter for Forcepoint G2CI as a standalone company backed by leading technology investor TPG
- Forcepoint G2CI President Sean Berg named CEO of the new company, with details of its new name to be announced in the coming months
Forcepoint G2CI President Sean Berg has been named CEO of the new company owned by TPG. (Photo: Business Wire)
The transaction separates Forcepoint’s G2CI and Commercial businesses and marks Forcepoint G2CI’s next chapter 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. TPG acquired the business through TPG Capital, its large-scale
As part of the transition, Forcepoint G2CI President Sean Berg has been named CEO of the new company, effective immediately. Under Berg’s leadership, the Forcepoint G2CI business grew to become an industry leader in Cross Domain and Insider Threat Solutions for government agencies worldwide. As CEO, Berg will focus the company’s strategy on global growth and expansion of the business.
Additionally, Peter Leav has joined the new company’s Board of Directors as Executive Chairman. Leav is an accomplished industry executive who has significant experience growing technology companies. He most recently served as President and CEO of McAfee, a former TPG portfolio company.
“For more than 20 years, Forcepoint G2CI has worked to solve government’s most complex challenges – mitigating the risk posed by insiders, enabling remote work, facilitating data sharing in classified environments and securing our nation’s critical infrastructure,” said Berg. “As the cybersecurity landscape grows even more complex for public sector organizations worldwide, particularly in the emerging AI era, partnering with TPG positions us to continue to meet our customers’ needs, both now and in the future.”
“Teams across all levels of government rely on Forcepoint G2CI to conduct mission-critical business safely and effectively,” said Tim Millikin, Partner at TPG. “The transaction provides Forcepoint G2CI with additional flexibility and resources to build upon its trusted platform, serving as a partner of choice to agencies amid an ever-changing operating environment. We look forward to partnering with Sean, Peter, and the G2CI team to invest behind the company’s capabilities and deepen relationships with global government and critical infrastructure customers.”
Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, will maintain a minority stake in Forcepoint G2CI. The firm continues to own Forcepoint’s Commercial business.
“Cyberattacks from malicious nation-states, bad actors and insiders remain an existential threat to global governments and private industry,” said Andrew Kowal, Partner at Francisco Partners. “The closing of this transaction allows both Forcepoint Commercial and G2CI to focus on simplifying security for their primary customers and bringing to market game-changing solutions that improve efficacy, ease of use, and TCO for security investments.”
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.
About Forcepoint
Forcepoint simplifies security for global businesses and governments. Forcepoint’s all-in-one, truly cloud-native platform makes it easy to adopt Zero Trust and prevent the theft or loss of sensitive data and intellectual property no matter where people are working. Based in
About TPG
TPG (NASDAQ: TPG) is a leading global alternative asset management firm, founded in
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately
View source version on businesswire.com: https://www.businesswire.com/news/home/20231002922358/en/
Forcepoint Media Contact:
Rachael.lyon@forcepoint.com
TPG Media Contact:
media@tpg.com
Francisco Partners Media Contact:
wclay@sloanepr.com
Source: Forcepoint
