Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Proofpoints financial condition, results of operations, or liquidity. Can You Get Laid Off While On Maternity Leave, Can Laid Off Union Workers Collect Unemployment, How Long Does Insurance Last After Being Laid Off. Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. SUNNYVALE, Calif. and SAN FRANCISCO Thoma Bravo, a leading software investment firm, and Proofpoint, Inc. ("Proofpoint), a leading cybersecurity and compliance company, today announced the completion of Thoma Bravo's acquisition of Proofpoint for approximately $12.3 billion in cash. We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Marketing is drastically . AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Hello to people who were part of the companies that Thoma Bravo acquired. The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. Manage risk and data retention needs with a modern compliance and archiving solution. Cautionary Note Regarding Forward-Looking Statements. Should I , RealPage It was great until Thoma Bravo Glassdoor, An inside view of ConnectWises reduction in force : r/msp, An inside view of ConnectWises reduction in force, Insights from Thoma Bravo and Frontline Education for , Proofpoint / Medallia outcome of Thoma bravo purchase Blind, Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Ellie Mae announces layoffs of 10% of its staff HousingWire, Buyout firm Thoma Bravo goes from niche to big league, Can You Be Laid Off While On Medical Leave, Can A Company Find Out If You Were Laid Off, Can You Say You Were Laid Off Instead Of Fired, Can You Go On Disability After Being Laid Off, Can You Be Laid Off While On Short-Term Disability. February . However, Thoma Bravo is unique due to its intense focus on the software space (and, more specifically, cybersecurity). This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. Todays cyber attacks target people. 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. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. 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. post regarding Riverbed . In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. Thoma Bravo is a private equity firm with a focus on investing in software and technology companies. Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. Read the release on the PR Newswire website here. As a rule, I am not a fan of financial shenanigans. However, our CEO will be leaving in April 2022 on his own, which is bad for us. How was the transition, where there a lot of layoffs?How did they compensate the employees? We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Insights about top trending companies, startups, investments and M&A activities, notable investors of Leveraging the firms deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Deliver Proofpoint solutions to your customers and grow your business. His clients are vendors, investment firms, and CISOs at large enterprises. It had 281 employees at the time, and was down 50 by the close of 2020. People may receive compensation for some links to products and services on this website. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Forcepoint journey has taken a long and winding road. Small Business Solutions for channel partners and MSPs. 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. But attrition has been all time high, and then they put hiring freeze. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. Thoma Bravo has made 63 acquisitions and 72 investments. It showed revenue growth of 15% in the first quarter of 2021; $288 million. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. Private equity firm Thoma Bravo has completed its acquisition of Proofpoint (NASDAQ: PFPT) and shares of the cybersecurity company stopped trading on the Nasdaq, effective today. 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 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 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. Learn about our global consulting and services partners that deliver fully managed and integrated solutions. Was given phantom equity grant that vests at liquidity eventall employees could also join a co-invest program to buy equity on the same terms as TB. Last year, it bought ProofPoint for $12.3 billion. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. Medallia, Go to company page Anaplan, Go to company page Learn about this growing threat and stop attacks by securing todays top ransomware vector: email. This model was successful enough for the company to go public in 2013. Leveraging the firms deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Proofpoint announced that Thoma Bravo will be acquiring it for $176 per share, a 34% premium to the prior day's closing price. Find the information you're looking for in our library of videos, data sheets, white papers and more. It's a bad time. 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). The all-cash deal will take Ping from public to private. We believe that as cyber threats continue to evolve, Proofpoints people-centric security and compliance strategy along with its innovative product suite will allow Proofpoint to drive significant growth and offer protection to even more customers as a private company.. The pair began to move Dynatrace from selling database. Sitemap, Thoma Bravo Completes Acquisition of Proofpoint. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. The announcement of the deal on Monday came four days after Thoma Bravo closed its previous top cloud acquisition the $10.2 billion purchase of RealPage, which serves the real estate industry. They recently started hiring in India, so cheaper labor is the focus which makes sense because PE firms only care for profit. Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. The all-cash deal will take Proofpoint off the stock market and make it a . Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. For more information, visit thomabravo.com. He had to wait to quit so he gets that payout, Check out this post! The Fidelis Elevate platform provides security analytics, and is being marketed as an XDR product. He researches and reports on 2,615 IT security vendors. Source: been thru this with them before. The cybersecurity and compliance firm Proofpoint has announced that it has entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction which values the. But lots can change from now til close, so Im curious whether this will *actually* happen or end up getting replaced with some sort of synthetic stock options. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. (Bloomberg) -- Thoma Bravo, the software-focused buyout firm, agreed to acquire cybersecurity and compliance firm Proofpoint Inc. in a deal it said values the business at about $12.3 billion.The private equity firm is offering $176 per share in cash, representing a 34% premium to Proofpoint's Friday closing price, according to a statement Monday. They will do all they can to not pay. Its business model seems to be to engage in lawsuits against other security technology companies, forcing them to pay licensing fees. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). (I did hear someone who was an employee for 7 years got 7 weeks severance, still a joke), Have found TB acquisition really energizing. It was then called Raytheon|Websense. Eng, Compensation has been poor, attrition is sky high, wlb is non existent. Proofpoint also disclosed Q1 2021 financial results today. It isn't clear yet what Thoma Bravo has planned for Ping Identity and SailPoint.