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 Bravo's acquisition of Proofpoint for approximately $12.3 billion in cash. 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. 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. In 2019, when Bravo reached billionaire status, Forbes wrote, Bravo is eyeing $10 billion-plus deals and expects to begin buying entire divisions from todays technology giants. The latest couple of deals haven't exceeded the $10 billion mark, but theyre substantial nonetheless. 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. 20 answers No layoffs except ~100 in commercial sales which isnt a priority for TB. The answer depends on the size of the company, how long the , https://www.glassdoor.com/Reviews/Employee-Review-RealPage-RVW47308194.htm, May 22, 2021 After the Thoma Bravo merger: the first wave of layoffs has already occurred and it looks like another wave is occurring. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Before the transaction was completed in September 2020, RSA transferred ownership of the core BSAFE libraries to Dell, along with the associated customer contracts. Thoma Bravo purchase of Proofpoint marks top private equity cloud deal True to Insights past performance with Recorded Future, they have continued to invest and grow Armis, which had 372 employees at the end of 2020, a 41% growth rate. Thoma Bravo Lacks Options with Proofpoint - Security Boulevard You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. richard-stiennon has 11 posts and counting.See all posts by richard-stiennon, Click full-screen to enable volume control, Thoma Bravo Lacks Options with Proofpoint, USENIX Security '22 - Yanxue Jia, Shi-Feng Sun, Hong-Sheng Zhou, Jiajun Du, Dawu Gu - Shuffle-based Private Set Union: Faster and More Secure, SafeBreach Coverage for US-CERT Alert (AA23-061A) Royal Ransomware, Digital Trust & Safety Roundup: Costly chargebacks, dynamically fighting ATO, and social media scam risks, Defeating Malvertising-Based Phishing Attacks, Update on the Executive Order on Improving the Nations Cybersecurity. Under the . How was the transition, where there a lot of layoffs?How did they compensate the employees? Gary Steele, chairman and CEO of Proofpoint, said in a press release . How is proofpoint doing after the acquisition in terms of:CompensationWLBCompany cultureAttritionLayoffsTB leadership and managementDo you guys still fear of layoffs?#tech #software #layoffs #thomabravo#anaplan, Go to company page 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.. Thoma Bravo post acquisition experiences? - Blind 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. Proofpoint Announces CEO Transition - Yahoo! At face value, fair enough. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Read the latest press releases, news stories and media highlights about Proofpoint. Did TB make any promises to Proofpoint that they reneged on? Source: been thru this with them before. The Fidelis Elevate platform provides security analytics, and is being marketed as an XDR product. nekx83aaxs Thanks for this . As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . Proofpoint Stockholders Approve Acquisition by Thoma Bravo Thoma Bravo's deal to take the company. Proofpoint appears to be different from the typical PE deal. 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. UserTesting Inc. to lay off 63 after $1.3B acquisition, merger - San 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. Leading organizations of all sizes, including more than half of the Fortune 1000, rely on Proofpoint for people-centric security and compliance solutions that mitigate their most critical risks across email, the cloud, social media, and the web. 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. Did they affect (positively or negatively)your culture or day to day operations? That's the current leader for largest cybersecurity acquisition of all time. Thoma Bravo has had little trouble finding companies to buy, including ones that are publicly traded. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. How were *unvested* RSUs handled? investor-relations@proofpoint.com (408) 585-4351. There were even cuts at the C suite, so I dont think any role is safe post acquisition. It had 281 employees at the time, and was down 50 by the close of 2020. 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. U.S. private equity giant Thoma Bravo is acquiring SailPoint in an all-cash deal worth about $6.9 billion, the cybersecurity company announced Monday. The cuts amount to less than 1% of Citigroup's . . With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. How did they handle unvested stock at acquisition? When private equity shows up to a deal, it usually spells disaster for everyone but the investors. In this wide-ranging interview, he also tells editorial director Craig Galbraith about . As a rule, I am not a fan of financial shenanigans. I know that my team has be reduced by 70% because everyone left. 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. 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. Thoma Bravo has just cut one of the largest-ever checks by a private equity firm to fund its $12.3 billion purchase of cybersecurity company Proofpoint. Proofpoint, the Nasdaq-listed cybersecurity firm, is being acquired by private equity giant Thoma Bravo for $12.3bn. Learn about our unique people-centric approach to protection. 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. Thoma Bravo Completes Acquisition of Proofpoint Proofpoint: Partners to Benefit from Thoma Bravo Acquisition Implement the very best security and compliance solution for your Microsoft 365 collaboration suite. Proofpoint, Go to company page The firm is considered to be extremely hands-on, including Bravo himself. Marketing is drastically . Thoma bravo has recently acquired proofpoint. 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. WhiteSource, an o pen source security firm, has acquired Diffend, an innovative software supply chain security service. Proofpoint Announces CFO Transition. I probably stayed too long but I rose to a senior leadership level due to attrition, re-orgs, and knowing my shit and was able to move to a senior role at a fast growing public company that wouldnt have been possible otherwise. 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. Akamai Technologies, Go to company page In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. San Francisco, CA 94105 +1 (415) 263-3660. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. Sometimes, CEO and other executive replacements occur. It will be almost a year the aquisition was declared last April of Proofpoint. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. 3D asset visualization and management platform startup Hexa raises $20 Should I trust the word or simply not accept the offer? Important risk factors that may cause such a difference include, but are not limited to: (i) the impact of the COVID-19 pandemic on Proofpoints business and general economic conditions; (ii) Proofpoints ability to implement its business strategy; (iii) potential litigation relating to the transaction; (iv) the risk that disruptions from the transaction will harm Proofpoints business, including current plans and operations; (v) the ability of Proofpoint to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the completion of the transaction; (vii) legislative, regulatory and economic developments affecting Proofpoints business; (viii) general economic and market developments and conditions; (ix) the evolving legal, regulatory and tax regimes under which Proofpoint operates; and (x) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Proofpoints response to any of the aforementioned factors. Trustwave was, in turn, acquired by Singtel in 2015. 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. 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. How did you guys do in terms of sale. So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. Anaplan, Go to company page Learn about our relationships with industry-leading firms to help protect your people, data and brand. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. Under the terms of the definitive agreement, Proofpoint shareholders will receive $176 per share in cash, in an all-cash transaction valued at $12.3bn . Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. Proofpoint has become the latest sizable tech vendor to succumb to private equity after Thoma Bravo succeeded in its $12.3bn grasp for the infosec giant. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Sophos, Go to company page 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. See Also . 10 Things To Know About The Thoma Bravo-Proofpoint Deal And Stock - CRN In April, the firm said it would buy Proofpoint Inc. in an all-cash transaction that values . Get deeper insight with on-call, personalized assistance from our expert team. Proofpoint Announces CFO Transition. Find the information you're looking for in our library of videos, data sheets, white papers and more. Forcepoint journey has taken a long and winding road. 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. 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. . Episodes feature insights from experts and executives. Proofpoint is a leading cybersecurity company that protects organizations' greatest assets and biggest risks: their people. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #vena. Prevent data loss via negligent, compromised and malicious insiders by correlating content, behavior and threats. Dec 6, 2021 Thoma Bravo's deals still involve lay-offs often more than 10 per cent of staff and outsourcing, shifting operations to countries with low Related Thoma Bravo Proofpoint Layoffs July 24, 2022 In "T Layoffs" Thoma Bravo Realpage Layoffs October 1, 2022 In "T Layoffs" Thoma Bravo Layoffs October 12, 2022 In "T Layoffs" Browse our webinar library to learn about the latest threats, trends and issues in cybersecurity. While the list of factors presented here is, and the list of factors presented in the proxy statement is, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Thoma Bravo to acquire Proofpoint in a $12.3B transaction In 2019, Bravo became the first billionaire born in Puerto Rico. Medallia, Go to company page As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. Thoma Bravo achte Proofpoint dans le cadre d'un accord en espces de Any time a private equity firm purchases a company in full, changes may occur. Thoma Bravo buys cybersecurity vendor Proofpoint for $12.3B in cash Proofpoint also disclosed Q1 2021 financial results today. Thoma Bravo, the private equity firm that completed the acquisition in March, had other plans as reported at IBL News on January 26th [emphasis in original]. Small Business Solutions for channel partners and MSPs. 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 Bravo Completes Acquisition of Proofpoint, Calypso Technology and AxiomSL combine forces under new name: Adenza, PDFTron Acquires PDF-to-Office Innovator Solid Documents. I think you have got the answer in your other post. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. Learn about the technology and alliance partners in our Social Media Protection Partner program. . Mimecast Rejects Thoma Bravo, Proofpoint Buyout Offer: Report Sitemap, Thoma Bravo Completes Acquisition of Proofpoint. An inside view of ConnectWises reduction in force from msp, When asked whether more layoffs were coming, Jason said that without Covid the My company is a Thoma Bravo deal as well and your description of those , https://www.cnbc.com/2021/04/26/thoma-bravo-purchase-of-proofpoint-marks-top-private-equity-cloud-deal.html, Apr 26, 2021 Proofpoint shares surged 31% on Monday after private equity firm Thoma Bravo agreed to buy the security software vendor in a deal valued at , Buyout firm Thoma Bravo builds war chest for software companies, Thoma Bravos transactions nonetheless embody layoffs (usually 10% or extra of employees) and outsourcing, shifting operations to international locations , https://www.thomabravo.com/press-releases/thoma-bravo-completes-acquisition-of-proofpoint. (Tech Industry)". Lets see how many more , Yes, Thoma Bravo is Brutal. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. How many people were fired after Thoma Bravo acquired you? Insider. Important risk factors that may cause such a difference include, but are not limited to: (i) the impact of the COVID-19 pandemic on Proofpoints business and general economic conditions; (ii) Proofpoints ability to implement its business strategy; (iii) potential litigation relating to the transaction; (iv) the risk that disruptions from the transaction will harm Proofpoints business, including current plans and operations; (v) the ability of Proofpoint to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the completion of the transaction; (vii) legislative, regulatory and economic developments affecting Proofpoints business; (viii) general economic and market developments and conditions; (ix) the evolving legal, regulatory and tax regimes under which Proofpoint operates; and (x) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Proofpoints response to any of the aforementioned factors. UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. Keep your people and their cloud apps secure by eliminating threats, avoiding data loss and mitigating compliance risk. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. 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). thoma bravo acquisitions layoffs . Read the release on the PR Newswire website here. Thoma Bravo to take cybersecurity firm Proofpoint private in $12.3 bln Customers end up PING stock, which went public in September 2019, had lost 11.19 percent of its total value by the end of July. 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. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. 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. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. The $800 million second-lien secured term loan is not rated. 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. Todays cyber attacks target people. 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. Fortunately, no layoffs, no reduction in force as of now. Ping Identity to be Acquired by Thoma Bravo for $2.8 Billion The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . 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. Splunk, Go to company page Deliver Proofpoint solutions to your customers and grow your business. Thoma Bravo Completes Acquisition of Proofpoint - yahoo.com Proofpoint Announces Expiration of "Go-Shop" Period The pair began to move Dynatrace from selling database. Some notable deals: Armis, one of the biggest IoT security vendors, had 263 employees when Insight Partners acquired them for a reported $1.1 billion valuation.
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