Jan Hruska and Peter Lammer created Sophos way back in 1985. They are now selling a large part of their combined 60% of the company, valuing it at $830 million, including debt.
In the meantime, private equity group TA Associates is selling its 20% stake in Sophos as part of the deal.
Overall, Apax is expecting to buy about 70% of the company's equity and is using debt to finance a third of the deal. Hruska and Lammer will remain involved as non-executive directors and will keep a large minority stake in the company.
Infosecurity notes that an attempt to list Sophos on the New York Stock Exchange had to be abandoned back in 2007 when the financial crisis started.
It's against this backdrop that Sophos' senior technology consultant Graham Cluley says that, despite all the changes on the backing front, there will be no changes on the staffing levels, or on the considerable research and development that the company makes in countering the growing IT security threat.
"Unlike an acquisition, it's merely a change in our investors. It's purely an exchange of shares, with a transfer of equity to an investment house", he said.
And the good news for Sophos' customers, he added, is that there will be opportunities for Apax to invest in the company for future expansion.
"It's actually a better option for us than a float, as some of the staff have a chance to exercise their share options", he said.
So will this change Sophos' strategy of developing its new products and services internally, rather than say – like Symantec – which has been acquiring companies in the IT security marketplace to give it access to new market sectors?
"We actually do acquire third-party firms when the time is right. Last year we acquired Utimaco and there was also an anti-spam company we acquired a few years back", Cluley replied.
"Some companies have scooped up other firms left, right and centre, and this can end up leaving customers a little upset. Our strategy is to put customers first, as we think they are the most important people for us", he said.