Security news
Security news8 September 1998
3i partners Sophos with £2.5 million share purchase
Abingdon-based Sophos Plc, the designer and developer of data security software and winner of the 3i 1996 Quest for Growth award, has 3i as a new shareholder. The Thames Valley office of 3i, Europe's leading venture capital company has invested £2.5m to enable founding investors Sir Martin Wood and Oxford Seedcorn Capital Ltd to realise a proportion of their shareholding.
Founded in 1986 by Peter Lammer and Jan Hruska, Sophos manufactures advanced anti-virus software for the corporate market. The company's unique virus detection technology provides complete protection across all major network and client operating systems.
The number of viruses is increasing at the rate of over 400 per month, partly due to increasingly powerful desktop applications which have lowered the expertise needed to write viruses, and partly due to PC usage - currently growing at 20% per annum. Sophos has a 25% share of the UK corporate market with key export markets in the US and Germany where Sophos subsidiaries have been set up. Local distribution offices have also been set up in Japan and France, in addition to the 30 distributor companies representing Sophos worldwide.
Following consolidation in the sector, Sophos is one of the world's top five independent companies providing anti-virus software, and operates in a global market which, according to a recent study by Gartner Group, is worth $404 million per year.
Commenting on the deal, Peter Lammer said: "We were proud to win the 1996 3i Quest for Growth competition and are delighted that 3i, with whom we have remained in close contact since, have decided to come on board. The timing is perfect - the market continues to grow and the opportunities for independent anti-virus providers are exciting. We are delighted to have the support of 3i as we continue our quest for growth. "
Ian Lobley, director of 3i, who made the investment on its behalf said: "Sophos is one of the most highly regarded companies in its sector, founded and led by two formidable people in Peter Lammer and Jan Hruska. The company has enormous potential to go even further in this market, where they have already built up an excellent reputation, and 3i is delighted to back this first-class winner."
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About Sophos
Sophos enables enterprises all over the world to secure and control their IT infrastructure. Sophos's network access control, endpoint, web and email solutions simplify security to provide integrated defenses against malware, spyware, intrusions, unwanted applications, spam, policy abuse, data leakage and compliance drift. With over 20 years of experience, Sophos protects over 100 million users in nearly 150 countries with its reliably engineered security solutions and services. Recognized for its high level of customer satisfaction and powerful yet easy-to-use solutions, Sophos has received many industry awards, as well as positive reviews and certifications.
Sophos is headquartered in Boston, US and Oxford, UK. More information is available at www.sophos.com
