Private equity buyers snap up UK’s hot tech stocks
Private equity firms have taken private four UK tech companies this year in deals worth $7.6bn, according to data from Preqin. The latest, software and hardware company Sophos, was snapped up by US buyout group Thoma Bravo last week in a deal valuing the cybersecurity firm at $3.8bn including debt.
Half of companies that were taken private in the UK over the past decade have been technology stocks. Since 2009, there have been 34 public-to-private deals in the UK information technology sector with an aggregate value of $24.3bn, Preqin data shows.