Sophos Wants to Buy Utimaco

7/28/08

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 a contributing editor at Xconomy. Follow @

By posting a comment, you agree to our terms and conditions.