Global security provider Forcepoint has announced the completed acquisition of the company’s global governments and critical infrastructure (G2CI) cybersecurity business by TPG, a global alternative asset management firm. Terms of the deal were not disclosed.
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, Forcepoint said in a news release. TPG acquired the business through TPG Capital, its large-scale U.S. and European private equity platform.
As part of the transition, Forcepoint G2CI President Sean Berg has been named CEO of the new company, effective immediately. 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.
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.
“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,” Berg said in the news release. “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.”