PE firm Francisco Partners completes Forcepoint acquisition

Private equity firm Francisco Partners Management LP completed its acquisition of Austin, Texas-based cybersecurity services provider Forcepoint LLC from Raytheon Technologies Corp.

Forcepoint's board tapped former Arista Networks Inc. Chief Customer Officer Manny Rivelo to serve as its CEO.

The company also named former Brocade Communications Systems LLC Chief Technology Officer Dave Stevens as its senior vice president of strategy and execution and former Lastline Inc. executive John DiLullo as its chief revenue officer.

In addition, it promoted senior vice president and general manager for global governments and critical infrastructure Sean Berg to president of the business unit.

Nomura, Citibank and Credit Suisse served as financial advisers to Francisco Partners on the deal. In addition, Paul Hastings LLP served as legal adviser to Francisco Partners.