Antivirus software maker Sophos
announced Tuesday that it received a $60 million investment from TA Associates, a private equity firm.
TA Associates will take a minority stake in Sophos and get a seat on the company's board of directors along with another seat on the board of its U.S. subsidiary. The investment is the first outside funding the United Kingdom-based company has received except for its initial seed financing. Sophos will use the cash to spur growth in the U.S. market.
The company makes antivirus protection software for large businesses. For the fiscal year ending in March 2001, privately held Sophos reported revenue of $33 million and before-tax profit of $11.5 million. Sophos' customer list includes Agilent Technologies, the University of California, KPMG International and Domino's Pizza Group.