TPG to take over Forcepoint's government cybersecurity business unit for $2.45 billion: Report

TPG is buying a business unit of Forcepoint from Francisco Partners for $2.45 billion, as per a media report, citing people familiar with the matter.

TPG is taking over Forcepoint's government cybersecurity business which is known as Forcepoint Global Governments and Critical Infrastructure, according to the report. The unit focuses on critical infrastructure for U.S. government and federal agencies. Francisco will retain a minority stake in the unit and it will continue to own and manage its commercial cybersecurity business as a separate entity.

Forcepoint is a cybersecurity company. The business unit that caters to the U.S. government currently generates about $400 million of annual revenue.

Forcepoint is exploring sale of its government security unit for more than $2 billion as part of its strategy to focus on growing its commercial business, sources told the news agency in April.