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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Francisco Partners acquired Forcepoint from Raytheon Technologies, completing the purchase on January 11, 2021. RTX later reported that the sale brought in $1.1 billion in cash. At closing, Manny Rivelo became Forcepoint’s CEO, with the company emphasizing broader adoption of Secure Access Service Edge (SASE).
Who bought Forcepoint, and when did the deal close?
Private-equity firm Francisco Partners was the buyer; Raytheon Technologies was the seller. The parties announced the agreement in October 2020, but did not disclose its terms at the time, according to SecurityWeek. Forcepoint announced completion on January 11, 2021, in its closing release.
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Cybersecurity Word Cloud Hacker Computer Coders Programmer Hardcover Journal, Black | $16.99 | Buy on Amazon |
| Milestone | What happened |
|---|---|
| October 2020 | Francisco Partners agreed to acquire Forcepoint from Raytheon Technologies; terms were undisclosed at announcement, according to SecurityWeek. |
| January 11, 2021 | Forcepoint announced that the acquisition was complete; Manny Rivelo became CEO effective immediately, according to Forcepoint. |
| January 2021 filing | RTX’s 2020 Form 10-K reported $1.1 billion in cash consideration for the completed sale. |
| July 2023 | Forcepoint announced that TPG would acquire its Global Governments and Critical Infrastructure business; Francisco Partners and existing co-investors would retain the commercial business. |
How much did Francisco Partners pay?
RTX reported $1.1 billion in cash consideration in its 2020 Form 10-K, filed after the transaction closed. The filing states: “In October 2020, we entered into a definitive agreement to sell our Forcepoint business, which we completed in January 2021, for $1.1 billion in cash.” The figure is RTX’s reported cash consideration for the completed sale; the October 2020 announcement had not disclosed the terms.
What changed at Forcepoint after the sale?
New leadership and a SASE strategy
Manny Rivelo became CEO when the deal closed. Forcepoint said its strategy was to accelerate adoption of a modern security approach built around Secure Access Service Edge (SASE), a model that brings network and security capabilities together for users accessing resources across locations and cloud services. The company described its work as protecting critical data and networks for thousands of customers worldwide.
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The business included more than one type of security product
RTX described Forcepoint as a cybersecurity business serving commercial and government organizations worldwide. Its portfolio included data-loss prevention, user and entity behavior analytics, cloud access security broker capabilities, insider-threat solutions, next-generation firewalls, web and email security delivered in cloud and on-premises settings, and cross-domain transfer products. The transaction therefore concerned a cybersecurity software and services business, not a single consumer device.
A later separation of government and commercial operations
In July 2023, Forcepoint announced that TPG would acquire the Global Governments and Critical Infrastructure business. Francisco Partners and existing co-investors were to retain the commercial business. That later carve-out changed the ownership structure of parts of Forcepoint; it was separate from the 2021 sale by Raytheon Technologies.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the transaction
This was a private-equity acquisition of a cybersecurity company from Raytheon Technologies, followed by a change in chief executive and a stated SASE-focused strategy. For comparisons with other cybersecurity deals, distinguish the announcement date from the closing date, identify whether the price was disclosed, and check whether a later transaction covered the whole company or only a business unit.
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