Credit Suisse provided debt financing for investment firm Francisco Partners in its acquisition of Forcepoint, a cybersecurity solutions provider, from Raytheon Technologies.

“We have followed Forcepoint for years and have a deep appreciation for its outstanding portfolio of innovative security products,” Brian Decker, partner at Francisco Partners, said. “Security is an increasingly important strategic investment area for enterprises, creating significant opportunities for Forcepoint to continue to build upon its track record of success.”

“Executing divisional carve-outs has been a core focus of Francisco Partners since we founded the firm in 1999,” Andrew Kowal, partner at Francisco Partners, said. “We look forward to working with the Forcepoint management team to help the company realize its full potential as an independent company while delivering enhanced value to the company’s customers, partners, and the end users its products protect.”

“We are proud to have built an industry-leading portfolio of security products that protect our customers’ infrastructure, people, and data,” Matt Moynahan, CEO of Forcepoint, said. “This transaction represents an exciting opportunity for Forcepoint to continue to innovate and drive growth with Francisco Partners. We believe that this partnership will help us to continue to invest in our products and organization while delivering increased value to our customers.”

“Forcepoint has established a leadership position as a provider of cybersecurity solutions to customers around the world. We look forward to partnering with the Forcepoint team to further invest in the company’s cloud security portfolio,” Evan Daar, principal at Francisco Partners, said.

Paul Hastings and Kirkland & Ellis acted as legal advisors to Francisco Partners. Barclays acted as exclusive financial advisor and Davis Polk & Wardwell acted as legal advisor to Raytheon Technologies.

Raytheon Technologies is an aerospace and defense company that provides systems and services for commercial, military and government customers.