TPG completes Forcepoint G2CI cybersecurity business acquisition

On October 2, Forcepoint announced the completed acquisition of the company’s Global Governments and Critical Infrastructure (G2CI) cybersecurity business by TPG.

The transaction separates Forcepoint’s G2CI and Commercial businesses and marks Forcepoint G2CI’s next chapter as an independent company with the flexibility and resources to grow its platform as a comprehensive, next-generation cybersecurity provider for the defense, intelligence, and critical national infrastructure industries. TPG acquired the business through TPG Capital, its large-scale U.S. and European private equity platform.

As part of the transition, Forcepoint G2CI President Sean Berg has been named CEO of the new company, effective immediately. Under Berg’s leadership, the Forcepoint G2CI business grew to become an industry leader in Cross Domain and Insider Threat Solutions for government agencies worldwide. As CEO, Berg will focus the company’s strategy on global growth and expansion of the business.

Additionally, Peter Leav has joined the new company’s Board of Directors as Executive Chairman. Leav is an accomplished industry executive who has significant experience growing technology companies. He most recently served as President and CEO of McAfee, a former TPG portfolio company.

“For more than 20 years, Forcepoint G2CI has worked to solve government’s most complex challenges – mitigating the risk posed by insiders, enabling remote work, facilitating data sharing in classified environments and securing our nation’s critical infrastructure,” said Berg. “As the cybersecurity landscape grows even more complex for public sector organizations worldwide, particularly in the emerging AI era, partnering with TPG positions us to continue to meet our customers’ needs, both now and in the future.”

“Teams across all levels of government rely on Forcepoint G2CI to conduct mission-critical business safely and effectively,” said Tim Millikin, Partner at TPG. “The transaction provides Forcepoint G2CI with additional flexibility and resources to build upon its trusted platform, serving as a partner of choice to agencies amid an ever-changing operating environment. We look forward to partnering with Sean, Peter, and the G2CI team to invest behind the company’s capabilities and deepen relationships with global government and critical infrastructure customers.”

Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, will maintain a minority stake in Forcepoint G2CI. The firm continues to own Forcepoint’s Commercial business.

“Cyberattacks from malicious nation-states, bad actors and insiders remain an existential threat to global governments and private industry,” said Andrew Kowal, partner at Francisco Partners. “The closing of this transaction allows both Forcepoint Commercial and G2CI to focus on simplifying security for their primary customers and bringing to market game-changing solutions that improve efficacy, ease of use, and TCO for security investments.”

Source: Forcepoint

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