It showed revenue growth of 15% in the first quarter of 2021; $288 million. 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. 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. It dropped 100 people after the sale to Symphony; probably attributable to the BSAFE team staying with Dell. 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. Cautionary Note Regarding Forward-Looking Statements. Cost cutting, layoffs remain leading startup themes. 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. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. Its recent $12.3 billion purchase of Proofpoint, . You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. Finally, on July 15, 2020, the two parties came to an agreement with a new deal worth about $1.67 billion. WhiteSource, an o pen source security firm, has acquired Diffend, an innovative software supply chain security service. 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. Apr 26, 2021 Proofpoint Inc. All other trademarks contained herein are the property of their respective owners. Advisors Morgan Stanley & Co. LLC is acting as exclusive financial advisor to Proofpoint, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as its legal counsel. Fortunately, no layoffs, no reduction in force as of now. . Under the . The acquisition of Proofpoint by private equity firm Thoma Bravo is reaping rewards for the security provider's partners. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Was given phantom equity grant that vests at liquidity eventall employees could also join a co-invest program to buy equity on the same terms as TB. Often, the company is saddled with debt to finance the deal. (I did hear someone who was an employee for 7 years got 7 weeks severance, still a joke), Have found TB acquisition really energizing. The firm has offices in Chicago, Miami and San Francisco. Skyview Capital announced the acquisition of Fidelis in January 2020. Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). Based on prior public filings, the company eliminated approximately 160 positions. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. 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. Before the transaction was completed in September 2020, RSA transferred ownership of the core BSAFE libraries to Dell, along with the associated customer contracts. Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. 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. 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 All other trademarks contained herein are the property of their respective owners. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. thoma bravo acquisitions layoffs . Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. A group of private equity firms acquired McAfee's consumer business for $14 billion. Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. It isn't clear yet what Thoma Bravo has planned for Ping Identity and SailPoint. The Fidelis Elevate platform provides security analytics, and is being marketed as an XDR product. 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. The company said this. The cuts amount to less than 1% of Citigroup's . When private equity shows up to a deal, it usually spells disaster for everyone but the investors. It will be almost a year the aquisition was declared last April of Proofpoint. There was a big culture change that did come with a focus on just saving money everywhere. Deliver Proofpoint solutions to your customers and grow your business. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. Thoma. With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. Save my name, email, and website in this browser for the next time I comment. Finjan has a storied past. Proofpoint, the Nasdaq-listed cybersecurity firm, is being acquired by private equity giant Thoma Bravo for $12.3bn. 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 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. Should I trust the word or simply not accept the offer? 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. The pair began to move Dynatrace from selling database. UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. About Proofpoint, Inc.Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. 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. 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. He was a Research VP at Gartner. 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. 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. 7 day notice, two week severance, no accelerated vesting so we miss the vest by 30 days. 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. Reduce risk, control costs and improve data visibility to ensure compliance. 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. Energized to find a new job after yours gets sent offshore is more accurate. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. 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. Can I Be Laid Off While On Workers Compensation? Save my name, email, and website in this browser for the next time I comment. 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. Todays cyber attacks target people. Access the full range of Proofpoint support services. 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. This is especially true if the buyout occurs in light of poor stock or company performance. Thoma Bravo's deal to take the company. Learn about our global consulting and services partners that deliver fully managed and integrated solutions. Small Business Solutions for channel partners and MSPs.

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