SecureWorks Acquisition, Valuation, Funding & Investors

SecureWorks was acquired by Sophos and Thoma Bravo for $859M in October 2024, a 2.5x multiple on $346M of revenue.

SecureWorks acquisition price

$859M

Acquired by Sophos, Thoma Bravo · Oct 2024

SecureWorks revenue at acquisition

$346M

Last twelve months · Oct 2024

SecureWorks revenue multiple at acquisition

2.5x

EV/Revenue · Oct 2024

Cumulative funding SecureWorks raised

$22M

across 1 funding round

SecureWorks Overview

About SecureWorks

SecureWorks is a managed security services provider offering threat detection, incident response, and SIEM platforms powered by Taegis XDR. Atlanta-headquartered since 1999 and publicly traded on NASDAQ, the company delivers 24/7 SOC operations from global delivery centers. SecureWorks protects Fortune 500 clients in retail, healthcare, and finance with AI-driven analytics from its Counter Threat Unit research team.


Founded

1999

HQ

United StatesAtlanta, GA

Status

Acquired

Customer focus

B2B

Revenue model

Subscription, Services

Revenue

$346M (Oct 2024)

Valuation

$859M (acquired Oct 2024)

SecureWorks Acquisition

SecureWorks was acquired by Sophos and Thoma Bravo for $859M on 21 October 2024.

The acquisition price implies a 2.5x revenue multiple on $346M of revenue.

Before the acquisition SecureWorks had raised $22M across 1 funding round.

SecureWorks, an Atlanta-based cybersecurity firm founded in 1999 and majority-owned by Dell Technologies since 2011, specializes in extended detection and response (XDR) through its Taegis XDR platform, managed detection and response (MDR) services, and the Counter Threat Unit for threat intelligence. Thoma Bravo-backed Sophos, a UK-based cybersecurity provider focused on endpoint, network, email, cloud security, and MDR, acquired SecureWorks in an all-cash transaction valued at $859 million, or $8.50 per share, representing a 28% premium to the unaffected 90-day VWAP. The deal, announced October 21, 2024, and completed February 3, 2025, positions Sophos as the largest pure-play MDR provider serving over 28,000 organizations worldwide. Sophos aims to integrate SecureWorks' capabilities—including identity threat detection and response (ITDR), next-gen SIEM, operational technology (OT) security, vulnerability risk prioritization, and security operations teams—into its Sophos X-Ops platform, creating an open, scalable security operations platform with hundreds of integrations for adaptive protection, detection, and response. The acquisition enhances Sophos' AI-driven threat intelligence, global telemetry, and services for small, midmarket, and enterprise customers amid rising cybersecurity M&A activity. SecureWorks' common stock ceased trading on Nasdaq post-close, with brands operating independently in the near term; SecureWorks CEO Wendy Thomas did not join permanently.

SecureWorks acquisition details
AcquirerDateTypePriceEV/Revenue
  • Sophos
  • Thoma Bravo
21 Oct 2024Strategic M&A$859M2.5x

SecureWorks Funding History

SecureWorks has raised a total of $22M across 1 funding round.

SecureWorks funding rounds

SecureWorks funding rounds
DateStageInvestorsRaised
Aug 2015Undisclosed stageCenterview Capital$22M

Who has invested in SecureWorks?

1 investor has backed SecureWorks across its funding rounds, including Centerview Capital.


SecureWorks Investors

Investors in SecureWorks by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by SecureWorks

SecureWorks has acquired 1 company to date.

Last acquisition by SecureWorks was on September 9th 2020. SecureWorks acquired Delve Security for $15M.


Latest Acquisitions by SecureWorks

Delve Security
Description
Delve Security is a Tel Aviv-headquartered provider of AI-driven vulnerability management platforms automating scanning, prioritization, and remediation. The solution integrates with CIS benchmarks and exploits databases like CVE, eliminating manual triage for enterprises. Delve Security serves financial institutions and tech firms including Check Point and CyberArk partners. Launched in 2021, it processes millions of vulnerabilities daily without increasing team headcount.
HQ CountryCanada
HQ City
Montreal
Deal Date9 Sep 2020
Valuation$15M
EV/Revenue
EV/EBITDA

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SecureWorks Competitors

SecureWorks competitors include listed companies like CommVault Systems and Rapid7, and private ones like Nile, Automox, Changyang Tech and Iru.

Public and private companies comparable to SecureWorks
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NileUnited StatesSan Jose, CAPrivate$8M-$775M96.9x
AutomoxUnited StatesAustin, TXPrivate--$666M-
CommVault SystemsUnited StatesUnited StatesPublicly listed$1.2B$84M$6.2B5.0x
Changyang TechChinaBeijingPrivate$167M-$861M5.2x
IruUnited StatesMiami, FLPrivate--$850M-
Rapid7United StatesUnited StatesPublicly listed$860M$63M$836M1.3x

SecureWorks Public Comps

SecureWorks is no longer listed, but its public comps include Yubico, Rapid7, Riskified, BeiJing Certificate, Asiainfo Security, Mitek Systems, NSFOCUS, CANCOM, Datagroup and Feitian Technologies.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Yubico$226M$19M3.3x3.2x39.7x25.6x
Rapid7$860M$63M1.3x1.3x17.4x6.8x
Riskified$345M($31M)1.8x1.6x(20.3x)19.0x
BeiJing Certificate$125M($12M)6.7x-(70.9x)-
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x
Mitek Systems$180M$37M4.1x3.7x19.9x11.2x
NSFOCUS$379M$37M2.6x2.4x26.1x25.6x
CANCOM$2B$118M0.4x0.4x6.3x5.7x

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Common questions about SecureWorks

When was SecureWorks founded?SecureWorks was founded in 1999.
Where is SecureWorks headquartered?SecureWorks is headquartered in Atlanta, GA, United States.
Is SecureWorks publicly listed?No, SecureWorks was acquired by Sophos and Thoma Bravo in October 2024.
Who acquired SecureWorks?SecureWorks was acquired by Sophos and Thoma Bravo in October 2024.
How much was SecureWorks acquired for?SecureWorks was acquired for $859M in October 2024, a 2.5x revenue multiple.
How much funding has SecureWorks raised?SecureWorks has raised $22M across 1 funding round.
What was SecureWorks' last funding round?SecureWorks' last funding round was a $22M undisclosed-stage round in August 2015.
Who are SecureWorks' investors?SecureWorks' investors include Centerview Capital.
Which companies are comparable to SecureWorks?Companies comparable to SecureWorks include Nile, Automox, CommVault Systems, Changyang Tech, Iru and Rapid7.
How many companies has SecureWorks acquired?SecureWorks has acquired 1 company, including Delve Security.
What was the largest acquisition by SecureWorks?The $15M acquisition of Delve Security in September 2020 is the largest acquisition SecureWorks has made to date.

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