July 10 (Reuters) - Forcepoint said on Monday buyout firm TPG (TPG.O) would purchase its government cybersecurity business from parent Francisco Partners.
The deal was for $2.45 billion, the Wall Street Journal had reported over the weekend, citing people familiar with the matter.
Forcepoint, TPG and Francisco did not immediately respond to requests for details on the deal value.
The unit, Forcepoint Global Governments and Critical Infrastructure (G2CI), is focused on critical infrastructure for U.S. government and federal agencies.
Francisco, which bought Forcepoint from Raytheon Technologies (RTX.N) in 2021, will retain a minority stake in G2CI and will continue as a controlling shareholder in Forcepoint Commercial business, the software company said.
Persons:
Forcepoint, Francisco, Samrhitha, Shweta Agarwal
Organizations:
TPG, Francisco Partners, Wall Street Journal, Forcepoint Global, Raytheon Technologies, Forcepoint, Thomson
Locations:
G2CI, Bengaluru