Cost cutting, layoffs remain leading startup themes. His clients are vendors, investment firms, and CISOs at large enterprises. The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. 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. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. Still other times, the firm who purchased the company may turn around and sell it again. Become a channel partner. Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. The private equity firm has more than $103 billion in assets , https://news.crunchbase.com/cybersecurity/cybersecurity-abnormal-unicorn-proofpoint-insight-partners/, May 10, 2022 equity giant Thoma Bravo bought publicly traded Proofpoint for $12.3 billion. post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. Proofpoint 2023 State of the Phish-rapport . Anaplan, Go to company page This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. There was a big culture change that did come with a focus on just saving money everywhere. 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. How did they handle unvested stock at acquisition? Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. February . Connect with us at events to learn how to protect your people and data from everevolving threats. The all-cash deal will take Ping from public to private. All rights reserved. More inside scoop? The private equity . Proofpoint Cautionary Note Regarding Forward-Looking Statements. 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. 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. 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. Cautionary Note Regarding Forward-Looking Statements. Any layoffs happened ? Apr 26, 2021 Proofpoint Inc. If youre at a company that is being acquired, start dusting off your resume and leave. Thoma Bravo is buying out Ping at a value of $28.50 per share, a 63-percent premium from the stocks price prior to the announcement. https://www.crn.com/slide-shows/security/10-things-to-know-about-the-thoma-bravo-proofpoint-deal-and-stock-hike, Apr 26, 2021 Heres a look at the fallout of Thoma Bravos record-breaking acquisition of Proofpoint , including why this deal is likely to kick off a , Mimecast Rejects Thoma Bravo, Proofpoint Buyout Offer: Report, Jan 14, 2022 Mimecast rejected Proofpoint /Thoma Bravo buyout offer because of potential The company confirmed targeted layoffs in February 2021, , https://www.theinformation.com/articles/musk-s-super-bad-feeling-an-amazon-exec-ships-out. For more information, visit thomabravo.com. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). Implement the very best security and compliance solution for your Microsoft 365 collaboration suite. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . This model was successful enough for the company to go public in 2013. The all-cash deal will take Ping from public to private. These forward-looking statements are based on Proofpoints current expectations, estimates and projections about the potential benefits of the transaction, its business and industry, managements beliefs and certain assumptions made by Proofpoint and Thoma Bravo, all of which are subject to change. 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. 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. Proofpoint You have time but change will come within 1-2 years. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : Keep your people and their cloud apps secure by eliminating threats, avoiding data loss and mitigating compliance risk. Bonuses will be paid af 100%, Did you guys meet sales target? 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. 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. 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. However, our CEO will be leaving in April 2022 on his own, which is bad for us. 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. With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. Learn about the technology and alliance partners in our Social Media Protection Partner program. AnswerThePublic listens into autocomplete data from search engines like Google then quickly cranks out every useful phrase and question people are asking around thoma bravo on 02 Feb. It's a goldmine of consumer insight you can use to create fresh, ultra-useful content, products and services. Akamai Technologies, Go to company page Verkada, Go to company page Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. Small Business Solutions for channel partners and MSPs. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. There will be a layoff but there will be opportunities if youre good and you stay. About Thoma Bravo. 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. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. Proofpoint Engaged Employer Overview 767 Reviews 160 Jobs 868 Salaries 249 Interviews 272 Benefits 37 Photos 268 Diversity + Add a Review Proofpoint Reviews Updated Feb 28, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 700 of over 768 Sort Popular Popular COVID-19 Related Highest Rating Lowest Rating Most Recent Oldest First Shares of Proofpoint Inc. rose more than 30% on Monday after the cybersecurity and compliance company agreed to be taken private by Thoma Bravo in an all-cash deal valued at about $12.3 billion. 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. The firm is considered to be extremely hands-on, including Bravo himself. 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 . All Rights Reserved. View in Appclose . 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 comes four days after Thoma Bravo closed its prior top cloud. He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. Learn about how we handle data and make commitments to privacy and other regulations. 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 . More information is available at www.proofpoint.com. Based on prior public filings, the company eliminated approximately 160 positions. The payout comes to a little more than eight times sales, Nowinski noted, while fellow cybersecurity company CrowdStrike Holdings Inc. (CRWD) trades at about 23 times sales. 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. Mimecast Email Security Business Background, Challenges Customers end up Latest Company & Industry Overviews News and Updates. Reduce risk, control costs and improve data visibility to ensure compliance. It went public in 2000. As a rule, I am not a fan of financial shenanigans. 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.