PE Firm Completes Acquisition of Forcepoint
It’s a done deal. Investment firm Francisco Partners said on Monday that has completed the previously announced acquisition of Forcepoint from Raytheon Technologies.
The deal was originally announced in October 2020, with the value of the transaction not disclosed.
Coinciding with the completion of the transaction, Manny Rivelo has been appointed Chief Executive Officer (CEO) of the security company effective immediately.
In addition to Rivelo, Forcepoint announced two additional new executive appointments — Dave Stevens as SVP of Strategy and Execution, and John DiLullo as Chief Revenue Officer.
With thousands of customers across more than 150 countries, Forcepoint offers a portfolio of products and services to help enterprises monitor and lock down their networks, endpoints and data. The company launched a new business unit focusing on critical infrastructure in September 2018.
ForcePoint was created in 2015 and unveiled as a new brand in 2016 after Raytheon and Websense announced a $1.9 billion deal with Vista Equity Partners to form a new company combining Websense with Raytheon Cyber Products. Websense was previously taken privatein May 2013 by Vista for over $900 million.