Get free research and resources to help you protect against threats, build a security culture, and stop ransomware in its tracks. Proofpoint, the Nasdaq-listed cybersecurity firm, is being acquired by private equity giant Thoma Bravo for $12.3bn. The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . 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. Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. Proofpoint and Thoma Bravo's Cybersecurity Network - The Deal 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. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. If youre at a company that is being acquired, start dusting off your resume and leave. Small Business Solutions for channel partners and MSPs. 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 More information is available at www.proofpoint.com. Fitch has also assigned a 'BB-'/'RR2' to Proofpoint's $250 million secured revolving credit facility (RCF) and $2.6 billion first-lien secured term loan. Access the full range of Proofpoint support services. 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. 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. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Learn about our relationships with industry-leading firms to help protect your people, data and brand. Thoma Bravo Completes Acquisition of Proofpoint - GlobeNewswire News Room Unvested stock turned to restricted cash vesting on the same schedule. There were even cuts at the C suite, so I dont think any role is safe post acquisition. 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. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. Thoma Bravo agrees $12.3bn deal for cyber security group Proofpoint There will be a layoff but there will be opportunities if youre good and you stay. View in Appclose Publicly traded Finjan was acquired by an investment group in a deal valued at $43.9 million, announced in June 2020. Proofpoint 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. 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. Bonuses will be paid af 100%, Did you guys meet sales target? 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. As a rule, I am not a fan of financial shenanigans. investor-relations@proofpoint.com (408) 585-4351. U.S. private equity giant Thoma Bravo acquires SailPoint - CNBC Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. Still other times, the firm who purchased the company may turn around and sell it again. It will be almost a year the aquisition was declared last April of Proofpoint. He had to wait to quit so he gets that payout, Check out this post! 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? He was a Research VP at Gartner. Thoma Bravo to take cybersecurity firm Proofpoint private in $12.3 bln Should I trust the word or simply not accept the offer? When private equity shows up to a deal, it usually spells disaster for everyone but the investors. It dropped 100 people after the sale to Symphony; probably attributable to the BSAFE team staying with Dell. 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. 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 Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. The all-cash deal will take Ping from public to private. Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. 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. 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. San Francisco, CA 94105 +1 (415) 263-3660. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. He researches and reports on 2,615 IT security vendors. Read the latest press releases, news stories and media highlights about Proofpoint. It had 281 employees at the time, and was down 50 by the close of 2020. Cost cutting, layoffs remain leading startup themes. https://www.teamblind.com/post/Proofpoint-Medallia-outcome-of-Thoma-bravo-purchase-YdfZ7Lkk, Mar 22, 2022 Fortunately, no layoffs , no reduction in force as of now. 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! 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. This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. 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, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. They just laid off hundreds of people 30 days before the fist big vest. Insider. 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. How did you guys do in terms of sale. 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. Thoma Bravo purchase of Proofpoint marks top private equity cloud deal In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. Anaplan, 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 unique people-centric approach to protection. Citigroup Cuts Hundreds of Jobs, Including in Investment Banking and List of top Thoma Bravo Portfolio Companies - Crunchbase 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. Marketing is drastically . Proofpoint's board has unanimously approved . Thoma Bravo Completes Acquisition of Proofpoint The all-cash deal will take Ping from public to private. 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. 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. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. Fitch Assigns Proofpoint First-Time 'B' IDR; Outlook Stable All Rights Reserved. Proofpoint Announces Cancellation of its 2021 Annual Meeting of CEO left because of frustrations with TB folks, talks of cost cuts, not laying off yet, but TB history got former CEO worried. Proofpoint will be privately held by private equity firm Thoma Bravo and will not have an independent board of directors. Did they affect (positively or negatively)your culture or day to day operations? 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 Proofpoint and medallia employees what has been your experience post the Thoma Bravo acquisition? 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. Eng, Compensation has been poor, attrition is sky high, wlb is non existent. 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 compliance company, today announced the completion of Thoma Bravo's acquisition of Proofpoint for approximately $12.3 billion in cash. See Also . 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. 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. post regarding Riverbed . 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.. Proofpoint, Go to company page 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. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #venafi, Go to company page The Fidelis Elevate platform provides security analytics, and is being marketed as an XDR product. Proofpoint Announces CEO Transition - Yahoo! 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. Source: been thru this with them before. Customers end up with less support for the products they purchased. Why Thoma Bravo's Acquisition Of Proofpoint Is Good For Mimecast We hit a 150+% bonus payout last year which was pretty nice. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. At the time, Forescout had 1,133 employees. The announcement comes four days after Thoma Bravo closed its prior top cloud. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : I know that my team has be reduced by 70% because everyone left. It also acquired SurfControl and Defensio. Websense was one of the first content URL filtering products. 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 deal, announced Feb. 6, 2020, was valued at $1.9 billion. Thoma Bravo is a private equity firm with a focus on investing in software and technology companies. Protect your people from email and cloud threats with an intelligent and holistic approach. Learn about how we handle data and make commitments to privacy and other regulations. There was a big culture change that did come with a focus on just saving money everywhere. 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]. 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 been an active investor and buyer in the cybersecurity market. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. In January 2016, the entity was spun off from Raytheon and branded as Forcepoint. New. The company said this. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. Shargo: Not completely random, but reasonable behind the decided price for the equity isnt perfect. - Emerce It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. 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 More information is available at www.proofpoint.com. 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 . 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. 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. Manage risk and data retention needs with a modern compliance and archiving solution. nekx83aaxs Thanks for this . 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. Proofpoint is traded publicly on the Nasdaq exchange and as . Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Proofpoint Layoffs - GoLayoffs Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. Trustwave was, in turn, acquired by Singtel in 2015. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Thoma Bravo SPAC Agrees to Take IronSource Public - Bloomberg The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. 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. 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. Connect with us at events to learn how to protect your people and data from everevolving threats. Market Realist is a registered trademark. Thoma Bravo always does a 15-20% RIF a few months after the deal closes. 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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