Author: Jane Edwards|| Date Published: April 20, 2023
Cybersecurity firm Forcepoint is looking to divest its government security unit for over $2 billion and is working with Citigroup on the potential sale as the company looks to focus on building up its commercial business, Reuters reported Wednesday.
Sources said no deal has been signed since discussions over the potential sale are still in the early phase.
Forcepoint’s U.S. government business, which secured a potential $89 million contract from the Department of Defense for security software in 2022, generates an annual revenue of approximately $400 million.
Forcepoint became Raytheon’s wholly owned business after the defense contractor purchasedVista Equity Partners‘ minority interest in the cybersecurity joint venture for $588 million during the fourth quarter of 2019.
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