Press Release

White & Case Advises Underwriters on UK's Largest Ever Tech Float

Global law firm White & Case LLP has advised a syndicate of banks including J.P. Morgan Securities plc and Morgan Stanley & Co. International plc, as Joint Global Coordinators, and Deutsche Bank AG, London Branch and UBS Limited, as Joint Bookrunners, on the initial public offering of Sophos.

The IPO of cybersecurity company Sophos on the London Stock Exchange represents the largest ever UK tech IPO. It values the company, which has been majority-owned by private equity firm Apax Partners since 2010, at just over £1 billion. Based in Oxford, UK, Sophos is a world leader in IT security and data protection. It has more than 30 years of experience and its products protect more than 200,000 organisations and in excess of 100 million users in 150 countries worldwide.

"The success of this landmark IPO highlights the LSE as a listing venue for tech companies," said London-based partner Inigo Esteve, who co-led the Firm's deal team. "It has been a very busy first half of the year for the White & Case ECM group in EMEA. Our position at the top of Bloomberg's H1 2015 EMEA IPO and ECM Manager Advisor league tables is a testimony of that."

"By combining the strength and capabilities of our capital markets and technology practices, with deal team lawyers based in London, New York and Palo Alto, White & Case helped ensure this eye-catching IPO was delivered successfully," said Joshua Kiernan, London-based partner who co-led the deal team on the Sophos IPO.

The White & Case team which advised on the transaction was co-led by partners Inigo Esteve and Joshua Kiernan (both London) and included partners Adam Chernichaw (New York) and Peita Menon (London) with support from associates Monica Holden and Narinder Surae (both London) and Ruchita Dhawan (Palo Alto).

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