Businesswire
Sean Berg
Global security leader Forcepoint on Monday announced that its Global Governments and Critical Infrastructure (G2CI) cybersecurity business had been acquired by TPG, a global alternative asset management firm based in Fort Worth and San Francisco.
According to a press release, 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. Officials added that details of the company's new name would be announced in the coming months.
“Teams across all levels of government rely on Forcepoint G2CI to conduct mission-critical business safely and effectively,” said Tim Millikin, partner at TPG, in a statement. “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.”
TPG acquired the business from Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Francisco Partners will continue to own Forcepoint’s Commercial Business and maintain a minority stake in Forcepoint G2CI.
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, according to the press release. 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.”
Citi and Barclays served as financial advisors to Forcepoint and Francisco Partners. Paul Hastings LLP served as legal advisor to Forcepoint and Francisco Partners. Piper Sandler served as financial advisor to TPG, and Davis Polk & Wardwell LLP served as legal counsel.
“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,” Millikin said.