Manny Rivelo on Why Forcepoint Will Sell Its Government UnitForcepoint CEO on What Makes TPG the Right Home for Its Government Defense Business
The proposed $2.45 billion sale of Forcepoint's government security business to TPG will fuel investment and growth for both public sector and commercial customers, CEO Manny Rivelo said.
Forcepoint determined that its government practice would benefit from an additional set of investments either under the continued ownership of Francisco Partners or from a different owner, Rivelo said. The company engaged with bankers and found there was a ton of interest in the government business given its growth and close relationships with the Department of Defense and intelligence community, he said (see: TPG to Buy Forcepoint's Government Security Unit for $2.45B).
"TPG's desire for how they want to grow the business is something that aligned with us and with the board," Rivelo said. "Our government business is critical to the safety of this country. The products are used by almost all of the major agencies that we're all familiar with. … Not only was it the right buyer, but they also wanted to protect this asset and bring it forward for the good of the world."
In this video interview with Information Security Media Group, Rivelo also discussed:
- The biggest growth drivers in Forcepoint's government business in recent years;
- What selling the government business means for Forcepoint's commercial clients;
- How the government and commercial businesses compare in revenue and headcount.
Rivelo has more than 30 years of experience across executive leadership, product management, customer support and sales functions. He joined Forcepoint in January 2021 from global investment firm Francisco Partners, where he served as senior operating partner. He previously served as chief customer officer at Arista Networks. Prior to that, he served as president and CEO of AppViewX and of F5 Networks. Before that, Rivelo held various senior leadership roles at Cisco Systems, including senior vice president of the engineering and operations group.