Global alternative asset management firm TPG (TPG) is set to acquire security leader Forcepoint's Global Governments and Critical Infrastructure (G2CI) Business unit. The move will establish G2CI as an independent entity, separating it from Forcepoint's commercial business.

What's The Deal With This Acquisition?

Forcepoint's G2CI business provides cyber security solutions for defense, intelligence, and critical national infrastructure organizations across the globe.

The seller is the technology-focused private equity firm Francisco Partners, which bought Forcepoint from Raytheon Technologies (RTX) in 2020. The price tag on Forcepoint's G2CI business is $2.45 billion, according to a report by The Wall Street Journal, more than double that Francisco paid for the entire company about three years ago.

Francisco will continue to own Forcepoint's Commerical business while retaining a minority interest in Forcepoint G2CI.

Separating from Forcepoint's commercial cybersecurity business and resources from TPG will sharpen the G2CI unit's focus on growing its platform.

TPG will invest in Forcepoint G2CI𓃲 through TPG Capital, the firm’s U.S. and European late-stage private equity platform, and the transaction is expected to close in the fourth quarter of 🌳the year, subject to regulatory review.

TPG has approximately $137 billion in assets under management, an increase of 14% compared to $120 billion in March 2022. Earlier this year, it announced the acquisition of Angelo Gordon, a fully integrated and scaled multi-strategy alternatives platform in credit and real estate.