It showed revenue growth of 15% in the first quarter of 2021; $288 million. All other trademarks contained herein are the property of their respective owners. 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. Get free research and resources to help you protect against threats, build a security culture, and stop ransomware in its tracks. 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. #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page 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. CEO left because of frustrations with TB folks, talks of cost cuts, not laying off yet, but TB history got former CEO worried. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. 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. nekx83aaxs Thanks for this . Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. Thoma Bravo , a private equity firm which took Proofpoint private in a $12.3 for approximately $12.3 billion in cash. Any time a private equity firm purchases a company in full, changes may occur. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. 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. Connect with us at events to learn how to protect your people and data from everevolving threats. Thoma Bravo has made 63 acquisitions and 72 investments. . The all-cash deal will take Proofpoint off the stock market and make it a . Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. 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. San Francisco, CA 94105 +1 (415) 263-3660. It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. The firm has offices in Chicago, Miami and San Francisco. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. 7 day notice, two week severance, no accelerated vesting so we miss the vest by 30 days. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. Cautionary Note Regarding Forward-Looking Statements. 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.. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. The $800 million second-lien secured term loan is not rated. The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. My TC is on par with what I could make at FAANG at 1.5 YOE in MCOL, but that's due to joining before the acquisition and my equity skyrocketing plus promotions. 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. Sometimes, CEO and other executive replacements occur. More information is available at www.proofpoint.com. Marketing is drastically , Ellie Mae announces layoffs of 10% of its staff, May 20, 2019 Ellie Mae recently completed restructuring its team after its acquisition by Thoma Bravo , a move that includes the layoff of about 10% of , https://www.ft.com/content/456f2fd7-f868-4ea6-abd7-fce34e783333, Dec 6, 2021 Thoma Bravos deals still involve lay-offs often more than 10 per cent of staff and outsourcing, shifting operations to countries with low . Thoma Bravo recently purchased SailPoint for a second time for $6.9 billion. post regarding Riverbed . 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. It's a bad time. 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. Customers end up Then massive cost cutting, layoffs and likely a change in their executives. The Fidelis Elevate platform provides security analytics, and is being marketed as an XDR product. Key Strategies for a Secure and Productive Hybrid Workforce, From Vulnerable to Invincible: The Five-Step Journey to Complete Cloud Security, See No Evil Mozilla SLAMS Googles App Privacy Labels, Surprise! The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Splunk, Go to company page Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #venafi, Go to company page This is followed by high rates of attrition by disrespecting the talented staff that stay and moving any new engineering jobs to offshore vendors. In January 2016, the entity was spun off from Raytheon and branded as Forcepoint. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. He had to wait to quit so he gets that payout, Check out this post! (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. Learn about the human side of cybersecurity. Transaction Is Expected to Close in Third Quarter of 2021SUNNYVALE, Calif., June 10, 2021 (GLOBE NEWSWIRE) -- Proofpoint, Inc. (NASDAQ: PFPT), a leading cybersecurity and compliance company, today announced the expiration of the 45-day "go-shop" period under the terms of the previously announced definitive agreement, pursuant to which Thoma Bravo, a leading private equity investment firm . 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. 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. Lost some good folk as part of restructuring and some parts of the biz now stretched, but margins are now great and the company has a really positive culture and is growing in the right places. Thoma Bravo has been an active investor and buyer in the cybersecurity market. May 17, 2019, 5:22 p.m. EDT 1 Min Read. Disarm BEC, phishing, ransomware, supply chain threats and more. The firm has offices in Chicago, Miami and San Francisco. About Proofpoint, Inc.Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. Thoma bravo has recently acquired proofpoint. Thoma Bravo already acquired Proofpoint for $12.3 billion in April 2021. Often, the company is saddled with debt to finance the deal. The pair began to move Dynatrace from selling database. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. 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. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. For more information, visit thomabravo.com. Thanks. 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. AI-powered phishing: Chatbot hazard or hot air? In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. 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. No layoffs except ~100 in commercial sales which isnt a priority for TB. Trustwave was, in turn, acquired by Singtel in 2015. Thoma Bravo post acquisition experiences? More information is available at www.proofpoint.com. The all-cash deal will take Ping from public to private. He researches and reports on 2,615 IT security vendors. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. Most of our engineering/devOps/implementation teams are already offshore, so lets see what happens. Going private allowed deep investments in the right parts of the business while trimming the fat. 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. Protect your people from email and cloud threats with an intelligent and holistic approach. Learn about this growing threat and stop attacks by securing todays top ransomware vector: email. 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. 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. Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. 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 . That plan was never realistic and likely misstated by company management. New. The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. All other trademarks contained herein are the property of their respective owners. However, Thoma Bravo is unique due to its intense focus on the software space (and, more specifically, cybersecurity). Finally, on July 15, 2020, the two parties came to an agreement with a new deal worth about $1.67 billion. 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. Other times, its layoffs. Proofpoint does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. However, our CEO will be leaving in April 2022 on his own, which is bad for us. In this wide-ranging interview, he also tells editorial director Craig Galbraith about . They just laid off hundreds of people 30 days before the fist big vest. So the problems youre seeing in SolarWinds is where Thoma Bravo , Insights from Thoma Bravo and Frontline Education for Instructures Possible Future, Dec 19, 2019 Even beyond Frontline Education, Thoma Bravo is well-known for having layoffs , as seen at Ellie Mae, Riverbed, Qlik, and Imperva. The Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. The company has spent over $ 97.92B for the acquisitions. He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. Can I Be Laid Off While On Workers Compensation? Thoma Bravo has invested in multiple sectors such as Cybersecurity, Banking Tech, GRC Software and more. I left in a year of joining. Shareholders are set to get $176 per share in cash, 34 per cent more than Proofpoint's closing share price on 23 April, according to bid details. Marketing is drastically . "We are excited . 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 It will be almost a year the aquisition was declared last April of Proofpoint. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. Should I not even entertain the idea of a job offer with them anymore? 3D asset visualization and management platform startup Hexa raises $20.5M - SiliconANGLE,3D asset visualization and management platform startup Hexa today announced it has raised $20.5 million in new funding to support further expansion.Based in Israel, Hexa, incorporated as Fitix Vi If youre at a company that is being acquired, start dusting off your resume and leave. 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" There will be a layoff but there will be opportunities if youre good and you stay. That's the current leader for largest cybersecurity acquisition of all time. Thoma Bravo's deal to take the company. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Thoma Bravo is a leading private equity firm that focuses on software and technology. Skyview Capital announced the acquisition of Fidelis in January 2020. Its recent $12.3 billion purchase of Proofpoint, . 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. Under the terms of the all-cash agreement, Proofpoint shareholders will receive $176 per share. The company said this. 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 . It started with the astounding acquisition of Recorded Future by Insight Partners for $780 million in 2019. Proofpoint, Go to company page However , https://www.proofpoint.com/us/blog/insider-threat-management/great-resignation-increasing-risk-data-loss-what-you-can-do-stop-it, Jun 28, 2022 And even as employees in the tech sector are affected by recent layoffs , the implication is the same: employee turnover puts sensitive data , https://news.crunchbase.com/cybersecurity/cybersecurity-abnormal-unicorn-proofpoint-insight-partners/, May 10, 2022 Proofpoint was founded as an email security solution, and while it added additional capabilities through the years it was still closely , https://www.indeed.com/cmp/Proofpoint/reviews.
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