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In January 2016, Forcepoint was unveiled as the new identity of the Raytheon | Websense joint venture first announced in April 2015. It unified Websense, Raytheon's Cyber Products division, and Stonesoft under a single brand.
Despite Forcepoint's clean slate and official beginnings in 2016, it is firmly guided by the capable hands of Raytheon executives. With a history of innovation spanning 93 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cybersecurity and a broad range of mission support services.
Websense specialized in computer security software, used by businesses and government institutions to protect their networks from cybercrime, malware, and data theft. Their products leverage a combination of classification engines, filtering categories, data fingerprints, and word filters designated by a company's network policy. Websense has been recognized by Gartner as one of the leaders in the Secure Web Gateway (SWG) and Content Aware Data-Loss Prevention (DLP) markets. Apart from web filtering, the company provided software-based, appliance-based and cloud-based email security, and data loss-prevention technology.
For some historical background, Websense was founded by Phil Trubey in 1994, and went public in the year 2000. In May 2013, Websense was acquired by Vista Equity Partners and taken private for a total purchase price of $906 million USD. With the closing of the transaction, their stock was delisted from NASDAQ and no longer were a publicly traded company. In April 2015, Raytheon invested $1.9 billion (net of cash acquired) to acquire Websense, of which $600 million is in the form of an intercompany loan to the joint venture. Raytheon also contributed the assets of Raytheon Cyber Products and related intellectual property, which is valued at $400 million. Vista Equity Partners has made a new cash investment of approximately $335 million for 19.7 percent of the equity interest in the joint venture. Subsequently, the joint venture acquired Stonesoft from McAfee / Intel Security to complement their offerings.