1/21/23 | Forcepoint FOX 3Gimbals *SEARCH*
In July 2023, Francisco Partners agreed to divest the government cybersecurity business of Forcepoint to buyout firm TPG Inc. for $2.45 billion
Forcepoint
Formerly:
NetPartners (1994–1999)
Websense (1999–2015)
Raytheon|Websense (2015–2021)
Type:
Industry:
Founded:
1994; 29 years ago in Sorrento Valley, San Diego
Founder:
Phil Trubey
Headquarters:
Austin, Texas, U.S.
Area served:
Worldwide
Key people
Manny Rivelo, CEO
Revenue:
$658 million (2019)[1]
Owner:
Francisco Partners (2021–present)
Vista Equity Partners (2013–2015)
Number of employees:
2,300 (2016)[2]
Parent:
Raytheon (2015–2021)
Website:
Forcepoint
is an American multinational corporation software company headquartered in Austin, Texas, that develops computer security software and data protection, cloud access security broker, firewall and cross-domain solutions.
Forcepoint was founded in 1994 as an information technology reseller called NetPartners. It was renamed Websense in 1999 and became a public company in 2000 at the peak of the dot-com bubble. Vista Equity Partners acquired Websense in 2013 for $906 million. Raytheon acquired an 80% interest in Websense in April 2015 for $1.9 billion and acquired the remaining 20% interest in 2019. In 2015, Websense acquired network security vendor Stonesoft from Intel and in 2016, the company was renamed Forcepoint. Francisco Partners acquired the company from Raytheon in January 2021.
NetPartners
The company was founded in 1994 as NetPartners in Sorrento Valley, San Diego by Phil Trubey.[3][4][5][6] The company began as a reseller of network security products,[6][7] and then developed software for controlling Internet use by employees.[4]
In 1998, NetPartners raised $6 million in venture capital funding and had $6 million in annual revenue.[4] Later that year, investors pushed Trubey out of the CEO position and appointed John Carrington as his replacement.[4][8]
Websense
In June 1999, NetPartners was renamed Websense.[9]
In March 2000, at the peak of the dot-com bubble, it raised $72 million in an initial public offering. The stock price doubled on its first day of trading.[10][11][12]
In 2006, former McAfee CEO Gene Hodges succeeded Carrington as chief executive officer of the company.[8]
In 2006, Websense acquired a fingerprint security company, PortAuthority. for $90 million.[13] In October 2007, it acquired email security vendor SurfControl for $400 million.[14][15] In 2009, it acquired Defensio, a spam and malware company focused on social media.[16]
By 2009, Websense had 1,400 employees, with offices in England, China, Australia, and Israel.[17] In 2011, Facebook deployed Websense to check every link users shared on the site.[5][18]
In 2013, Vista Equity Partners acquired the company for $906 million.[5] Websense headquarters were moved to San Diego that year[3] and to Austin, Texas in 2014.[6] In 2015, Raytheon acquired the firm from Vista Equity Partners for $1.9 billion[19] and combined it with RCP, formerly part of its IIS segment, to form Raytheon|Websense.[20] In October 2015, Raytheon added Foreground Security,, for $62 million.[21]
Forcepoint
Raytheon acquired an 80% interest in Websense in May 2015 for about $1.9 billion.[22][23][24] In October 2015, the company acquired two subsidiaries of Intel, Stonesoft and Sidewinder, for $389 million.[25][26] Stonesoft was a network security product previously known as "McAfee Next-Generation Firewall;"[26] Sidewinder was a firewall previously known as McAfee Firewall Enterprise.[26]
In January 2016, Websense, along with the two subsidiaries Stonesoft and Sidewinder, were merged and rebranded as Forcepoint. Raytheon's "Cyber Products" business was also merged into the new brand.[25][27] At the time, Forcepoint had 2,000 employees, with one-third of its customers being departments in the federal government of the United States.[27] Forcepoint was the smallest of five major businesses owned by Raytheon, but had the highest profit margin.[27] The following year, Forcepoint began shuffling executives in a re-organization effort that included some layoffs.[26] The company was divided into four business units: Cloud Security, Network Security, Data & Insider Threat Security, and Global Governments.[26]
In April 2016, Matthew Moynahan was appointed chief executive officer of Forcepoint.[28] In February 2017, Forcepoint acquired a cloud-based access broker (CASB) security product from Imperva called Skyfence.[26] In August 2017, it acquired user and entity behavior analytics company RedOwl.[26][29] In the fourth quarter of 2019, Raytheon acquired the remaining 20% of the company from Vista Ventures Partners LLC for $588 million.[1]
In October 2020, Francisco Partners announced their agreement to acquire Forcepoint from Raytheon.[30][31] The transaction was completed in January 2021.[32]
In July 2023, Francisco Partners agreed to divest the government cybersecurity business of Forcepoint to buyout firm TPG Inc. for $2.45 billion, as the company intends to focus on its commercial business.[33]
Censorship
Forcepoint has a policy against selling to governments and ISPs that engage in Internet censorship,[47][48] however it has been criticized for a "perceived link to censorship of free speech and the dissemination of knowledge."[5]
In 2009, it was discovered that the Yemeni government was using Forcepoint's products to monitor the public's internet use[47] and block tools that allow citizens to hide their internet use from the government[48] and the software Alkasir was created to circumvent it.[49][50] Forcepoint responded by cutting off the country's access to the firm's database updates.[47] However, then Sanaa based British-Irish journalist Iona Craig complained on Twitter, access to Tumblr, which many press agents use to spread news, remained closed inside Yemen, her pleas being ignored. It soon appeared that Canadian software company Netsweeper also aids Yemen authorities to censor, even the Houthi government being its customer.[51][52]
In 2011, Forcepoint said it would join the Global Network Initiative, which is focused on privacy and Internet freedom.[47] It left the initiative in 2014.[53]
https://en.wikipedia.org/wiki/Forcepoint
Manny Rivelo
Manny Rivelo is the Chief Executive Officer (CEO) at Forcepoint. As Forcepoint CEO, Rivelo drives the company’s strategy to accelerate enterprise and government agency adoption of a modern approach to security that embraces the emerging Secure Access Service Edge (SASE) architecture.
Rivelo has more than 30 years of experience across executive leadership, product management, customer support and sales functions with some of the world’s leading security and information technology companies. Rivelo joined Forcepoint from global investment firm Francisco Partners Consulting where he served as Senior Operating Partner. Prior to Francisco Partners, he was Chief Customer Officer at Arista Networks, where he was responsible for the company’s global sales and field marketing functions. He has also served as President & CEO of AppViewX, a low-code infrastructure automation provider.
Additional senior leadership roles included F5 Networks where he served as President and CEO as well as Executive Vice President, Security, Service Provider and Strategic Solutions. Prior to F5 Networks, Rivelo held various senior leadership roles at Cisco Systems including Senior Vice President of the Engineering and Operations group.
Rivelo is currently a Director at Sandvine, Outdoorsy, WootCloud, Valtix and Fashwire. He holds bachelor’s and master’s degrees in Electrical Engineering from the Stevens Institute of Technology.
https://councils.forbes.com/profile/Manny-Rivelo-CEO-Forcepoint
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