Global alternative asset management firm TPG revealed its planned acquisition of Forcepoint’s Global Governments and Critical Infrastructure (G2CI) Business unit. This strategic move will establish G2CI as an independent entity, separating it from Forcepoint’s commercial business.
Forcepoint’s G2CI business is known for providing top-notch cybersecurity solutions to defense, intelligence, and critical national infrastructure organizations worldwide. The company has a strong track record for protecting government information.
TPG is a leader in the alternative asset management space, currently managing over $137 billion in funds.
The sale of the G2CI unit, valued at $2.45 billion, is more than twice the amount Francisco Partners paid for the whole company a few years ago and is being carried out by technology-focused private equity firm Francisco Partners.
With this acquisition, Francisco Partners will retain a minority stake in Forcepoint G2CI while maintaining ownership and management of its commercial cybersecurity business as a separate entity. This separation will enable G2CI to focus solely on expanding its platform and enhancing its capabilities with the support and resources provided by TPG.
TPG’s investment in Forcepoint G2CI will be made through TPG Capital, the firm’s US and European late-stage private equity platform. The transaction will undergo regulatory review and closes in the fourth quarter of this year.
TPG, with assets under management totaling approximately $137 billion, has been actively diversifying its portfolio, representing a 14% increase compared to the previous year. Earlier in the year, the firm made headlines after it acquired Angelo Gordon, a scaled multi-strategy alternatives platform.
Representatives from TPG and Francisco Partners have refrained from providing comments regarding the acquisition, while Forcepoint hasn’t responded to inquiries yet.
The acquisition of Forcepoint G2CI is expected to have a significant impact on the cybersecurity industry, positioning them as a key player in safeguarding critical infrastructure and fortifying government systems.