Proofpoint Accepts $12.3 Billion Buyout From Thoma Bravo Thoma Bravo recently acquired Realpage and more than 10% was laid off during the 1st round, a 2nd round just laid off 600 more people. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. The Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. US DoD Server Had no Password 3TB of Sensitive Data Leaked, Cowbell Adds Free Cybersecurity Services for Insurance Policy Holders, Microsoft FAIL: BlackLotus Bootkit Breaks Secure Boot, Organizations Struggle WithCCPA, CPRA, GDPR Compliance, Add your blog to Security Bloggers Network. However, our CEO will be leaving in April 2022 on his own, which is bad for us. Proofpoint. post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. Did they affect (positively or negatively)your culture or day to day operations? Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. Thoma Bravo News, Press Releases, Awards and Events Going private allowed deep investments in the right parts of the business while trimming the fat. So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. Thoma Bravo used $675 million in cash and raised $1.8 billion in debt to buy Compuware and then split off Dynatrace as a separate company. Learn about our relationships with industry-leading firms to help protect your people, data and brand. Proofpoint: Partners to Benefit from Thoma Bravo Acquisition We caught up with him ahead of the Channel Partners Conference & Expo and co-located MSP Summit, Nov. 1-4. Meet Wall Street's Best Dealmaker: New Billionaire Orlando Bravo - Forbes Trustwave was, in turn, acquired by Singtel in 2015. Anaplan, Go to company page Websense was one of the first content URL filtering products. Can I Be Laid Off While On Workers Compensation? Todays cyber attacks target people. Lets see how many more , Yes, Thoma Bravo is Brutal. The all-cash deal will take Ping from public to private. The company's key investments include Barracuda Networks and Sophos, among many other firms. Instructure Restructure: Significant layoffs hitting Canvas side of the "Just got laid off after takeoverWhat should I do now? 2/ That Thoma Bravo is the suitor is likely no coincidence; they're set to also acquire fellow identity security company SailPoint in the second half of 2022.Betting they combine $PING and $SAIL then bring them public as a bigger, stronger business down the road. We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. Despite the fact that private equity firms usually lay off lots of people, Thoma Bravo, the new expected owner, has promised that it won't reduce Instructure's staff on the new path to profitability. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. That plan was never realistic and likely misstated by company management. Cost cutting, layoffs remain leading startup themes. The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. In January 2016, the entity was spun off from Raytheon and branded as Forcepoint. Fortunately, no layoffs, no reduction in force as of now. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. Finjan has a storied past. reported by Reutersmight be another proof point for a market downturn. Proofpoint, Go to company page Learn about our unique people-centric approach to protection. Thoma Bravo to acquire Proofpoint in a $12.3B transaction Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. Learn about our people-centric principles and how we implement them to positively impact our global community. The cybersecurity company Proofpoint said it has agreed to be acquired by the private -equity firm Thoma Bravo for $12.3 billion in cash, or about $176 a share, up about 34% from Friday's . As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. Cautionary Note Regarding Forward-Looking Statements. All rights reserved. No layoffs except ~100 in commercial sales which isnt a priority for TB. Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. Youll be emailing , An inside view of ConnectWises reduction in force from msp, But they acquired SolarWinds in 2016 and their acquisition of ConnectWise wasnt until 2019. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. Disarm BEC, phishing, ransomware, supply chain threats and more. This communication contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. https://www.teamblind.com/post/Proofpoint-Medallia-outcome-of-Thoma-bravo-purchase-YdfZ7Lkk, Mar 22, 2022 Fortunately, no layoffs , no reduction in force as of now. Can I Be Laid Off While On Workers Compensation? Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. Most of our engineering/devOps/implementation teams are already offshore, so lets see what happens. As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . Customers end up with less support for the products they purchased. Im extremely grateful to our team members whose dedication and hard work have contributed to Proofpoints success and made this possible and, together, I know well deliver even more innovative solutions for our customers., We are thrilled to officially embark on our partnership with Proofpoint and begin supporting Proofpoints ongoing mission of protecting organizations from the ever-increasing threat of cyberattacks, said Seth Boro, a Managing Partner at Thoma Bravo. The announcement that Thoma Bravo is acquiring publicly traded Proofpoint for $12.3 billion is the latest and largest private equity deal in the cybersecurity industry. These forward-looking statements are based on Proofpoints current expectations, estimates and projections about the potential benefits of the transaction, its business and industry, managements beliefs and certain assumptions made by Proofpoint and Thoma Bravo, all of which are subject to change. However, Thoma Bravo is unique due to its intense focus on the software space (and, more specifically, cybersecurity). It will be almost a year the aquisition was declared last April of Proofpoint. The US buyout. The all-cash deal will take Proofpoint off the stock market and make it a . Raytheon purchased Vista Equitys remaining Forcepoint stake in January 2020 for $588 million, and then announced in October 2020 that it was selling the whole company to another private equity firm, Francisco Partners. Salespeople have to explain why the new ownership is better all around, while they contend with territories being rejiggered and adjust to new sales leadership. Should I trust the word or simply not accept the offer? Thoma Bravo is buying out Ping at a value of $28.50 per share, a 63-percent premium from the stocks price prior to the announcement. However , Thoma Bravo Lacks Options with Proofpoint, Apr 28, 2021 Employees are faced with layoffs , years of stalled product innovation and the imposition of cost-saving measures. Mimecast Rejects Thoma Bravo, Proofpoint Buyout Offer: Report Should I not even entertain the idea of a job offer with them anymore? Proofpoint is a leading cybersecurity company that protects organizations' greatest assets and biggest risks: their people. Only sales will continue to hire. Thoma Bravo to take cybersecurity firm Proofpoint private in $12.3 bln Save my name, email, and website in this browser for the next time I comment. Any layoffs happened ? Monthly WordPress Security Roundup [April 2021], US Marshals Ransomware Hack is Major Incident, Orca Security Adds Data Security Capabilities to Cloud Platform, Top 10 Open Source Software Risks of 2023, NIST Shores Up CSF 2.0 With Supply Chain, Governance Reforms, White House Bans TikTok on Federal Devices, Multi-Year Spearphishing Campaign Targets the Maritime Industry Likely for Financial Gain, GitHub Restore and Disaster Recovery Better Get Ready, Bizarre DNS Hacks For Fun And, Um, Fun. We are looking forward to working closely with Gary and the Proofpoint team to leverage Thoma Bravos deep cybersecurity expertise to help propel the companys continued innovation and growth. Proofpoint Announces Expiration of "Go-Shop" Period Now that it has been taken private by Fortress Investment Group LLC, it will continue to be a thorn in the side of any cybersecurity company deemed to be infringing on its patents. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. How was the transition, where there a lot of layoffs?How did they compensate the employees? Thanks. Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. In the largest-ever private equity investment in cloud software, Thoma Bravo has agreed to acquire Proofpoint for $12.3 billion to boost its cybersecurity profile. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page A group of private equity firms acquired McAfee's consumer business for $14 billion. Thoma bravo has recently acquired proofpoint. Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. How many people were fired after Thoma Bravo acquired you? The payout comes to a little more than eight times sales, Nowinski noted, while fellow cybersecurity company CrowdStrike Holdings Inc. (CRWD) trades at about 23 times sales. Proofpoint Stockholders Approve Acquisition by Thoma Bravo That's the current leader for largest cybersecurity acquisition of all time. Save my name, email, and website in this browser for the next time I comment. Thoma Bravo purchase of Proofpoint marks top private equity cloud deal Find the information you're looking for in our library of videos, data sheets, white papers and more. AnswerThePublic listens into autocomplete data from search engines like Google then quickly cranks out every useful phrase and question people are asking around thoma bravo on 02 Feb. It's a goldmine of consumer insight you can use to create fresh, ultra-useful content, products and services. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. Its recent $12.3 billion purchase of Proofpoint, . Thoma Bravo is a private equity firm with a focus on investing in software and technology companies. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. Thoma Bravo's transactions nonetheless embody layoffs (usually 10% or extra of employees) and outsourcing, shifting operations to international locations Thoma Bravo Completes Acquisition of Proofpoint https://www.thomabravo.com/press-releases/thoma-bravo-completes-acquisition-of-proofpoint Thoma Bravo Completes Acquisition of Proofpoint All Rights Reserved. 4 days ago Equity is a TechCrunch podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Last year, it bought ProofPoint for $12.3 billion. Deliver Proofpoint solutions to your customers and grow your business. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? Learn about the technology and alliance partners in our Social Media Protection Partner program. Browse our webinar library to learn about the latest threats, trends and issues in cybersecurity. Moody's assigns B3 CFR to Proofpoint; outlook positive Learn about the latest security threats and how to protect your people, data, and brand. Save my name, email, and website in this browser for the next time I comment. Finally, on July 15, 2020, the two parties came to an agreement with a new deal worth about $1.67 billion. How did they handle unvested stock at acquisition? The Rating Outlook is Stable. investor-relations@proofpoint.com (408) 585-4351. Shargo: Not completely random, but reasonable behind the decided price for the equity isnt perfect. Bravo, Thoma Bravo - Security Boulevard Thoma Bravo always does a 15-20% RIF a few months after the deal closes. The $800 million second-lien secured term loan is not rated. The acquisition was previously announced on April 26, 2021, and Proofpoints stockholders approved the transaction at the Special Meeting of Shareholders held on July 23, 2021. Acquisitions by Thoma Bravo | Tracxn Thoma Bravo to Buy Cyber Firm Proofpoint for $12.3 Billion Defend your data from careless, compromised and malicious users. Former Profit 21 (now Epicor) CEO Chuck Boyle said about the firm after his own acquisition, Orlando would help not only at the highest level with strategy but also when we got grunt work done. Boyle is no longer the CEO. Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. Did TB disclose anything? It will be almost a year the aquisition was declared last April of Proofpoint . Read the release on the PR Newswire website here. SUNNYVALE & SAN FRANCISCO, Calif., April 26, 2021 -- Proofpoint, Inc. (NASDAQ: PFPT) (the "Company"), a leading cybersecurity and compliance company, today announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services UltimatePP you think proofpoint is doing good under Thoma Bravo? The firm has offices in Chicago, Miami and San Francisco. Private equity firm Thoma Bravo on Monday announced it had signed a definitive agreement to acquire the cybersecurity and compliance firm Proofpoint in a $12.3 billion all-cash deal. The firm has offices in Chicago, Miami and San Francisco. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #venafi, Go to company page Latest Company & Industry Overviews News and Updates. These risks, as well as other risks associated with the transaction, are more fully discussed in the proxy statement filed with the U.S. Securities and Exchange Commission in connection with the transaction. Interestingly, Thoma Bravo was allegedly thinking about buying Twitter before Elon Musk announced he would buy it for $44 billion (a deal that Musk has subsequently attempted to back out of). I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. Proofpoint, Go to company page The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . Thoma Bravo Lacks Options with Proofpoint - Security Boulevard Proofpoint Stockholders Approve Acquisition by Thoma Bravo Thoma Bravo Completes Acquisition of Proofpoint - yahoo.com Advisors Morgan Stanley & Co. LLC is acting as exclusive financial advisor to Proofpoint, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as its legal counsel. Chicago-based private equity firm Thoma Bravo makes a business out of buying companies but what does it mean for acquired brands after the deal gets finalized? February . SUNNYVALE and SAN FRANCISCO, Calif., August 31, 2021 Thoma Bravo, a leading software investment firm, and Proofpoint, Inc. (Proofpoint), a leading cybersecurity and compliance company, today announced the completion of Thoma Bravos acquisition of Proofpoint for approximately $12.3 billion in cash. The announcement that Thoma Bravo is acquiring publicly traded Proofpoint for $12.3 billion is the latest and largest private equity deal in the cybersecurity industry.As a rule, I am not a fan of financial shenanigans. This model was successful enough for the company to go public in 2013. Thoma Bravo buys cybersecurity vendor Proofpoint for $12.3B in cash As a rule, I am not a fan of financial shenanigans. Marketing is drastically . In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Anaplan, Go to company page Thoma Bravo achte Proofpoint dans le cadre d'un accord en espces de 12,3 milliards de dollars 0 2 minutes read La socit de cyberscurit et de conformit Proofpoint a annonc avoir conclu un rglement dfinitif devant tre obtenu par Thoma Bravo dans le cadre d'une transaction en espces qui valorise la socit environ 12,3 milliards de dollars. With an integrated suite of cloud-based solutions, Proofpoint helps companies around the world stop targeted threats, safeguard their data, and make their users more resilient against cyber attacks. It will be almost a year the aquisition was declared last April of Proofpoint. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. I recorded them in Security Yearbook 2021. I have a job offer at proofpoint and They are saying there wont be layoffs. The only path forward I can see is for Thoma Bravo to clean up a few things and repackage Proofpoint for a sale to Microsoft. View in Appclose Did TB make any promises to Proofpoint that they reneged on? We are hiring..no stopping that..lets see what TB says when mgmt meets with them later this week. About Thoma BravoThoma Bravo is one of the largest private equity firms in the world, with more than $83 billion in assets under management as of June 30, 2021. Connect with us at events to learn how to protect your people and data from everevolving threats. Cyber Security Mergers & Acquisitions - April 2021 SUNNYVALE, Calif. and SAN FRANCISCO, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Thoma Bravo, a leading software investment firm, and Proofpoint, Inc. ("Proofpoint), a leading cybersecurity and. Private equity firm Thoma Bravo to spend $12.3 billion on Proofpoint Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. Proofpoint Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Marketing is drastically , Thoma Bravo recently acquired Realpage and more than 10% was laid off during the 1st round, a 2nd round just laid off 600 more people. This is followed by high rates of attrition by disrespecting the talented staff that stay and moving any new engineering jobs to offshore vendors. We hit a 150+% bonus payout last year which was pretty nice.
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