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. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. It will be almost a year the aquisition was declared last April of Proofpoint. 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. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Bonuses will be paid af 100%, Did you guys meet sales target? Marketing is drastically curtailed, with fewer appearances at trade shows and events in general. #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Learn about our global consulting and services partners that deliver fully managed and integrated solutions. Small Business Solutions for channel partners and MSPs. Eng, Compensation has been poor, attrition is sky high, wlb is non existent. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the anticipated benefits of the transaction. Proofpoint, the Nasdaq-listed cybersecurity firm, is being acquired by private equity giant Thoma Bravo for $12.3bn. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. That's the current leader for largest cybersecurity acquisition of all time. Raytheon continued acquiring technologies, including both Stonesoft and Sidewinder, network firewalls that ended up in the hands of Intel after they acquired McAfee, which had, in turn, acquired them when they bought Secure Computing. We hit a 150+% bonus payout last year which was pretty nice. Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . Still other times, the firm who purchased the company may turn around and sell it again. 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.. In 2019, Bravo became the first billionaire born in Puerto Rico. 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. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Help your employees identify, resist and report attacks before the damage is done. 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. 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). Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. 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 How many people were fired after Thoma Bravo acquired you? Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. Thoma Bravo is a private equity firm with a focus on investing in software and technology companies. 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? 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. Proofpoint I feel bad for the people. 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]. UltimatePP you think proofpoint is doing good under Thoma Bravo? Founded in 1997 in Israel with technology that could be used to counter modern viruses (so-called polymorphic) and DRM technology, it pivoted several times and was ultimately acquired by M86 Security in 2009. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. Get deeper insight with on-call, personalized assistance from our expert team. In this wide-ranging interview, he also tells editorial director Craig Galbraith about . About Thoma Bravo. It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. 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. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. Should I trust the word or simply not accept the offer? Connect with us at events to learn how to protect your people and data from everevolving threats. reported by Reutersmight be another proof point for a market downturn. SUNNYVALE, Calif. and SAN FRANCISCOThoma 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. In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. They will do all they can to not pay. 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.. Forcepoint journey has taken a long and winding road. How Does a Data Breach Take Place in an Organization? 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. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Cautionary Note Regarding Forward-Looking Statements. "Just got laid off after takeoverWhat should I do now? Proofpoint after Thoma Bravo acquisition - Blind 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 Main menu Contents Want to see the real deal? Thoma. Deliver Proofpoint solutions to your customers and grow your business. 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. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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's board has unanimously approved . . 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 is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. 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. For more information, visit thomabravo.com. It was then called Raytheon|Websense. Websense was one of the first content URL filtering products. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. nekx83aaxs Thanks for this . 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. New. I have a job offer at proofpoint and They are saying there wont be layoffs. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #vena. 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. Anaplan, Go to company page 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. Thoma 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. Often, the company is saddled with debt to finance the deal. 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. Thoma Bravo is considered the successor to previously existing firm Golder Thoma & Co. Other executives likely hold a substantial stake in the firm, which maintains $70 billion in assets under management. It will be almost a year the aquisition was declared last April of Proofpoint . More information is available at www.proofpoint.com. Read the latest press releases, news stories and media highlights about Proofpoint. 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. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. All rights reserved. The $800 million second-lien secured term loan is not rated. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. The proceeds along with sponsor equity from Thoma Bravo will be used for Thoma Bravo's acquisition of . The company said this. 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. 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. 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. Learn about our people-centric principles and how we implement them to positively impact our global community. View in Appclose Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. 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 . 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. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the anticipated benefits of the transaction. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Proofpoint / Medallia outcome of Thoma bravo purchase Blind, The Great Resignation is Increasing the Risk of Data Loss, Email Cybersecurity Firm Abnormal Hits Unicorn Status After , Working at Proofpoint: 51 Reviews | Indeed.com, Cost cutting, layoffs remain leading startup themes TechCrunch, 10 Things To Know About The Thoma Bravo-Proofpoint Deal , Musks Super-Bad Feeling; an Amazon Exec Ships Out, 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. He researches and reports on 2,615 IT security vendors. How were *unvested* RSUs handled? SUNNYVALE, Calif. Proofpoint, Inc., a leading cybersecurity and compliance company, today announced that Rmi Thomas has been appointed as chief financial officer, effective immediately. The firm is considered to be extremely hands-on, including Bravo himself. See Also . Thoma Bravo has been an active investor and buyer in the cybersecurity market. Thoma Bravo has made 63 acquisitions and 72 investments. Customers end up with less support for the products they purchased. Save my name, email, and website in this browser for the next time I comment. It also acquired SurfControl and Defensio. Apr 26, 2021 Proofpoint Inc. . Mimecast Email Security Business Background, Challenges More information is available at www.proofpoint.com. 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 UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #venafi, Go to company page Thoma Bravo, a private equity firm, has agreed to purchase Proofpoint for $12.3 billion in the biggest cybersecurity acquisition of all time. Terms and conditions 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. Save my name, email, and website in this browser for the next time I comment. This is especially true if the buyout occurs in light of poor stock or company performance. Gary Steele, chairman and CEO of Proofpoint, said in a press release . "We are excited . Sometimes, CEO and other executive replacements occur. 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. 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. Based on prior public filings, the company eliminated approximately 160 positions. Should I , Thoma Bravo Lacks Options with Proofpoint Security Boulevard, An inside view of ConnectWises reduction in force : r/msp, An inside view of ConnectWises reduction in force, Proofpoint / Medallia outcome of Thoma bravo purchase Blind, 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. The US buyout. The announcement comes four days after Thoma Bravo closed its prior top cloud. Is bonus performance based or based on ebidta. Anaplan, Go to company page Thoma Bravo already acquired Proofpoint for $12.3 billion in April 2021. 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. Insider. The pair began to move Dynatrace from selling database. In a deal described as underlining its status as a powerhouse in the sector, cyber security and compliance company Proofpoint is to be acquired by private equity (PE) firm Thoma Bravo. I think you have got the answer in your other post. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. Prevent data loss via negligent, compromised and malicious insiders by correlating content, behavior and threats. They recently acquired Continuum Managed Solutions and fired 150 people within a week in a mere 2 hours without specifying any , https://www.quora.com/My-company-has-been-acquired-by-Thoma-Bravo-Should-I-consider-changing-my-job, Sep 6, 2018 After an acquisition , how long before severance packages are offered due to layoffs /downsizing? When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Defend your data from careless, compromised and malicious users. 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. The cuts amount to less than 1% of Citigroup's . 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. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. However, our CEO will be leaving in April 2022 on his own, which is bad for us. Source: been thru this with them before. 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. There will be a layoff but there will be opportunities if youre good and you stay. So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. Proofpoint The company's key investments include Barracuda Networks and Sophos, among many other firms. We caught up with him ahead of the Channel Partners Conference & Expo and co-located MSP Summit, Nov. 1-4. Thoma Bravo is a leading private equity firm that focuses on software and technology. 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. Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Did TB make any promises to Proofpoint that they reneged on? Riverbed Technology, Go to company page 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. Layoffs are coming(senior leadership across the board is looking for the exit), etc. Is the Market for Hardware Security Appliances Doomed? Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). That number dropped to 1,007 by the end of the year. Any layoffs happened ? Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. The firm has offices in Chicago, Miami and San Francisco. Fortunately, no layoffs, no reduction in force as of now. 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 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. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Can I Be Laid Off While On Workers Compensation? Layoffs : Downsizing related discussion, postings, questions and answers. 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 . The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 4 days ago Equity is a TechCrunch podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Insights about top trending companies, startups, investments and M&A activities, notable investors of Find the information you're looking for in our library of videos, data sheets, white papers and more. 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