By Suzanna Kerridge, 22 May 2002 17:00
NEWS The directors of anti-virus software specialist Sophos have sold a minority stake in the company to US firm TA Associates for £41m. Dr Peter Lemmer, co-founder and joint CEO of Sophos, said the company was trying to get a stronger foothold in the US anti-virus market. The company already has a subsidiary based in Boston employing 50 staff and provides a substantial part of tis worldwide turnover. Lemmer claimed the TA investment would let them tap into more profitable market. "The US market is a big growth area for us and with TA on board we will be in a much stronger position. Since they already have offices in Boston they can provide a much better hands on approach." Sophos has appointed two TA executives to the board, one to Sophos Plc in the UK and the other to Sophos Inc in the States. Sophos has had many suitors in the past but Lemmer has seen them all off. He claimed the calibre of staff was not high enough. TA, however, is a different story. "TA has a high profile of successful investment of technology companies and that especially important for us. In addition, all the individuals from TA that we have seen are of an exceptionally high calibre and I could see us working closely with all of them."
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