Sophos Wants to Buy Utimaco

Wade Roush7/28/08

Boston-based Sophos, which makes software that helps IT administrators control corporate networks and keep out viruses, spam, and spyware, said today that it’s offering $340 million in cash for all outstanding shares in Utimaco Software, a maker of encryption and security software based in Oberursel, Germany, near Frankfurt. The takeover offer represents a 92 percent premium on Utimaco’s latest closing price on the Frankfurt stock exchange. Investcorp Technology Partners has already agreed to sell Sophos its 24.99 percent stake in Utimaco.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can subscribe to his Google Group or e-mail him at wroush@xconomy.com. Follow @