Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. As a rule, I am not a fan of financial shenanigans. Proofpoint, backed by Thoma Bravo, made an offer for Mimecast that was 16% higher than the Permira agreement, but Proofpoint declined the higher offer inquiry amid antitrust concerns, Reuters said. May 17, 2019, 5:22 p.m. EDT 1 Min Read. It's a bad time. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Latest Company & Industry Overviews News and Updates. 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. Thoma Bravo will likely spend time directly helping to manage these companies and infiltrate themselves into the business to better understand what direction they want to take it. Thoma Bravo Layoffs Medallia, Go to company page About Proofpoint, Inc.Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. 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. Thoma Bravo takes a stake in threat intelligence provider Intel 471 Can I Be Laid Off While On Workers Compensation? Proofpoint is a leading cybersecurity company that protects organizations' greatest assets and biggest risks: their people. They cut across the org - DevOps got sent offshore first, followed by a lot of SWE. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. 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). "Just got laid off after takeoverWhat should I do now? This model was successful enough for the company to go public in 2013. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. Thoma Bravo has had little trouble finding companies to buy, including ones that are publicly traded. Proofpoint and medallia employees what has been your experience post the Thoma Bravo acquisition? Fortunately, no layoffs, no reduction in force as of now. It showed revenue growth of 15% in the first quarter of 2021; $288 million. Proofpoint Announces CFO Transition . U.S. private equity giant Thoma Bravo acquires SailPoint - CNBC Only sales will continue to hire. "We are excited . Proofpoint shares stop trading after acquisition closes Source: been thru this with them before. All Rights Reserved. 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. Thoma. More information is available at www.proofpoint.com. It was then called Raytheon|Websense. This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. You have time but change will come within 1-2 years. Energized to find a new job after yours gets sent offshore is more accurate. Proofpoint Shares Rise on Thoma Bravo Takeover Deal - WSJ Thoma Bravo post acquisition experiences? nekx83aaxs Thanks for this . 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. However, one thing is clear: Changes are yet to come. However, our CEO will be leaving in April 2022 on his own, which is bad for us. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as expect, anticipate, intend, plan, believe, could, seek, see, will, may, would, might, potentially, estimate, continue, expect, target, similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. Learn about our people-centric principles and how we implement them to positively impact our global community. It started with the astounding acquisition of Recorded Future by Insight Partners for $780 million in 2019. Get deeper insight with on-call, personalized assistance from our expert team. Market Realist is a registered trademark. Customers end up with less support for the products they purchased. At Anaplan, weve been told our invested RSUs for the fiscal year will be accelerated and paid out at close. View in Appclose Proofpoint announced that it has entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction that values Proofpoint at approximately $12.3 billion.. Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. Bonuses will be paid af 100%, Did you guys meet sales target? CEO left because of frustrations with TB folks, talks of cost cuts, not laying off yet, but TB history got former CEO worried. 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. Learn about our unique people-centric approach to protection. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. Based on prior public filings, the company eliminated approximately 160 positions. Thanks. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : In January 2016, the entity was spun off from Raytheon and branded as Forcepoint. 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. San Francisco, CA 94105 +1 (415) 263-3660. Proofpoint appears to be different from the typical PE deal. It will be almost a year the aquisition was declared last April of Proofpoint. Can I Be Laid Off While On Workers Compensation? Implement the very best security and compliance solution for your Microsoft 365 collaboration suite. The Thoma Bravo-Proofpoint deal will be the largest acquisition in cybersecurity history, beating out Broadcom's $10.7 billion purchase of Symantec in August 2019, Intel's $7.6 billion buy of . 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. Thoma Bravo to Buy Proofpoint for $12.3B - CFO 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. Save my name, email, and website in this browser for the next time I comment. Apr 26, 2021 Proofpoint Inc. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. Save my name, email, and website in this browser for the next time I comment. Proofpoint, Go to company page He was a Research VP at Gartner. That's the current leader for largest cybersecurity acquisition of all time. 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. That plan was never realistic and likely misstated by company management. Thoma Bravo | Leading Private Equity Firm in Software & Technology I have a job offer at proofpoint and They are saying there wont be layoffs. Proofpoint Announces CFO Transition. How Does a Data Breach Take Place in an Organization? Eng, Compensation has been poor, attrition is sky high, wlb is non existent. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Proofpoint Accepts $12.3 Billion Buyout From Thoma Bravo Unvested stock turned to restricted cash vesting on the same schedule. After the pandemic hit, Advent got cold feet and tried to back out of the deal. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. Verkada, Go to company page Should I not even entertain the idea of a job offer with them anymore? Going private allowed deep investments in the right parts of the business while trimming the fat. Thoma Bravo is a leading private equity firm with a 40-year history, including over $35 billion in investor commitments, and a focus on investing in software and technology companies. Splunk, Go to company page 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. Riverbed Technology, Go to company page The company said this. It will be almost a year the aquisition was declared last April of Proofpoint. +1 to the person above who said they actively avoid companies owned by private equity firms. 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. Lets see how many more , https://www.crn.com/slide-shows/security/10-things-to-know-about-the-thoma-bravo-proofpoint-deal-and-stock-hike, Apr 26, 2021 The Thoma Bravo Proofpoint deal will be the largest acquisition in cybersecurity history, beating out Broadcoms $10.7 billion purchase of , https://www.spcorders.co.za/gnk/thoma-bravo-proofpoint-layoffs, Thoma Bravo agreed to acquire Proofpoint , a cybersecurity and compliance company, for $12.3bn. Significant , https://www.teamblind.com/post/proofpointmedallia-outcome-of-thoma-bravo-purchase-YdfZ7Lkk, Mar 22, 2022 Fortunately, no layoffs , no reduction in force as of now. Proofpoint Announces Expiration of "Go-Shop" Period List of top Thoma Bravo Portfolio Companies - Crunchbase https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. Access the full range of Proofpoint support services. Security vendor Proofpoint snapped up by private equity for $12.3bn but When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Thoma Bravo has made 63 acquisitions and 72 investments. 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 Thoma Bravo to buy Proofpoint for $12.3bn - Financier Worldwide Thoma Bravo is buying Proofpoint in a $12.3 billion all-cash deal 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. SUNNYVALE, Calif. Proofpoint, Inc., a leading cybersecurity and compliance company, today announced that Rmi Thomas has been appointed as chief financial officer, effective immediately. I think you have got the answer in your other post. Proofpoint, Inc. investor-relations@proofpoint.com (408) 585-4351 About Thoma Bravo Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in. April 26 (Reuters) - Private equity firm Thoma Bravo said on Monday it would buy Proofpoint Inc (PFPT.O) in an all-cash deal that valued the cybersecurity firm at about $12.3 billion, at a. Save my name, email, and website in this browser for the next time I comment. 3D asset visualization and management platform startup Hexa raises $20 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 a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. 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 Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. 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. Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . Cost cutting, layoffs remain leading startup themes. 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. This is especially true if the buyout occurs in light of poor stock or company performance. Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in assets under management as of March 31, 2021. How did they handle unvested stock at acquisition? Oct 20, 2020 Got an email from our CEO confirming that Thoma Bravo will be acquiring a controlling interest in our firm.
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