09:13 AM EDT, 10/21/2024 (MT Newswires) -- SecureWorks ( SCWX ) said Monday that it has agreed to be acquired by British cybersecurity company Sophos for approximately $859 million in cash.

Under the terms of the deal, Secureworks ( SCWX ) shareholders will receive $8.50 per share in cash, which it said represents a 28% premium to the unaffected 90-day volume-weighted average price.

The companies said the acquisition is expected to close in early 2025.

Trading in shares of SecureWorks ( SCWX ) has been halted and is expected to resume at 9:10 am ET.