Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. View in Appclose At Anaplan, weve been told our invested RSUs for the fiscal year will be accelerated and paid out at close. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. Can I Be Laid Off While On Workers Compensation? 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. 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. 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. Proofpoint, Inc. investor-relations@proofpoint.com (408) 585-4351 About Thoma Bravo Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in. At face value, fair enough. It will be almost a year the aquisition was declared last April of Proofpoint. Customers end up with less support for the products they purchased. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. Can I Be Laid Off While On Workers Compensation? In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. The all-cash deal will take Ping from public to private. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. Proofpoint Enters Definitive Agreement to be Acquired by Thoma Bravo in . Proofpoint is a leading cybersecurity company that protects organizations' greatest assets and biggest risks: their people. 20 answers No layoffs except ~100 in commercial sales which isnt a priority for TB. 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. Should I not even entertain the idea of a job offer with them anymore? Proofpoint 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]. Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). Forcepoint journey has taken a long and winding road. February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. . All other trademarks contained herein are the property of their respective owners. UserTesting Inc. to lay off 63 after $1.3B acquisition, merger - San Proofpoint appears to be different from the typical PE deal. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. Thoma Bravo recently purchased SailPoint for a second time for $6.9 billion. Thoma Bravo Layoffs Proofpoint Announces CFO Transition. Going private allowed deep investments in the right parts of the business while trimming the fat. Keep up with the latest news and happenings in the everevolving cybersecurity landscape. So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. That plan was never realistic and likely misstated by company management. How Does a Data Breach Take Place in an Organization? Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. Proofpoint Accepts $12.3 Billion Buyout From Thoma Bravo 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. They just laid off hundreds of people 30 days before the fist big vest. But attrition has been all time high, and then they put hiring freeze. 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. Thoma Bravo Injects $8 Billion of Equity for Proofpoint Acquisition Thoma Bravo to buy Proofpoint for $12.3bn - Financier Worldwide 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. Browse our webinar library to learn about the latest threats, trends and issues in cybersecurity. #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page 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. Andy Brimmer / Matthew Sherman / Jed Repko, 2023. 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 . Everyone I knew was just recruiting all the time. Thoma Bravo is a leading private equity firm that focuses on software and technology. We are hiring..no stopping that..lets see what TB says when mgmt meets with them later this week. Is the Market for Hardware Security Appliances Doomed? 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? Proofpoint: Partners to Benefit from Thoma Bravo Acquisition Proofpoint also disclosed Q1 2021 financial results today. Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. Anaplan, Go to company page I recorded them in Security Yearbook 2021. Access the full range of Proofpoint support services. Email Security Company Proofpoint Acquired By Thoma Bravo - MSSP Alert Thoma Bravo to Buy Cyber Firm Proofpoint for $12.3 Billion Bonuses will be paid af 100%, Did you guys meet sales target? Thanks. Meet Wall Street's Best Dealmaker: New Billionaire Orlando Bravo - Forbes Thoma Bravo has been an active investor and buyer in the cybersecurity market. People may receive compensation for some links to products and services on this website. It went public in 2000. 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. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. 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 . Proofpoint Announces Cancellation of its 2021 Annual Meeting of You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. It isn't clear yet what Thoma Bravo has planned for Ping Identity and SailPoint. It dropped 100 people after the sale to Symphony; probably attributable to the BSAFE team staying with Dell. For more information, visit thomabravo.com. With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. Ping Identity to be Acquired by Thoma Bravo for $2.8 Billion We hit a 150+% bonus payout last year which was pretty nice. WhiteSource, an o pen source security firm, has acquired Diffend, an innovative software supply chain security service. The firm has offices in Chicago, Miami and San Francisco. 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. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. 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. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. Thoma Bravo has invested in multiple sectors such as Cybersecurity, Banking Tech, GRC Software and more. Can I Be Laid Off While On Workers Compensation? Thoma Bravo buys cybersecurity vendor Proofpoint for $12.3B in cash 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. 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. See Also . Then massive cost cutting, layoffs and likely a change in their executives. 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 Marketing is drastically . The all-cash deal will take Proofpoint off the stock market and make it a . Private equity firm Thoma Bravo to spend $12.3 billion on Proofpoint 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. Proofpoint Enters Definitive Agreement to be Acquired by Thoma Bravo in Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. His clients are vendors, investment firms, and CISOs at large enterprises. 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 . Thoma Bravo post acquisition experiences? - Blind The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. 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. Last year, it bought ProofPoint for $12.3 billion. RealPage It was great until Thoma Bravo Glassdoor, Dynatrace Employee Reviews about thoma bravo Glassdoor, My company has been acquired by Thoma Bravo. 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. Thoma Bravo to Buy Cyber Firm Proofpoint for $12.3 Billion 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. Shargo: Not completely random, but reasonable behind the decided price for the equity isnt perfect. Copyright 2023 Market Realist. In the latest development, private equity giant Thoma Bravo is buying Proofpoint, the SaaS security vendor, for $12.3 billion in cash. Lets see how many more , Yes, Thoma Bravo is Brutal. Its business model seems to be to engage in lawsuits against other security technology companies, forcing them to pay licensing fees. Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. Proofpoint / Medallia outcome of Thoma bravo purchase - Blind In April, the firm said it would buy Proofpoint Inc. in an all-cash transaction that values . However, one thing is clear: Changes are yet to come. 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. Deliver Proofpoint solutions to your customers and grow your business. However, our CEO will be leaving in April 2022 on his own, which is bad for us. All rights reserved. A group of private equity firms acquired McAfee's consumer business for $14 billion. He researches and reports on 2,615 IT security vendors. Stand out and make a difference at one of the world's leading cybersecurity companies. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. 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 . 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. Market Realist is a registered trademark. They cut across the org - DevOps got sent offshore first, followed by a lot of SWE. Did TB make any promises to Proofpoint that they reneged on? Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. Thoma Bravo used $675 million in cash and raised $1.8 billion in debt to buy Compuware and then split off Dynatrace as a separate company. 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. 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. 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. Thoma Bravo takes a stake in threat intelligence provider Intel 471 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 . As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . All Rights Reserved. Proofpoint Stockholders Approve Acquisition by Thoma Bravo reported by Reutersmight be another proof point for a market downturn. The Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. Thoma Bravo Acquires Proofpoint For $12.3B | PYMNTS.com 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. post regarding Riverbed , 10 Things To Know About The Thoma Bravo-Proofpoint Deal , thoma bravo proofpoint layoffs Superprecast |, Email Cybersecurity Firm Abnormal Hits Unicorn Status After , thoma bravo proofpoint layoffs Revista TusXV.com, An inside view of ConnectWises reduction in force : r/msp, An inside view of ConnectWises reduction in force, Thoma Bravo purchase of Proofpoint marks top private equity , Buyout firm Thoma Bravo builds war chest for software , Thoma Bravo Completes Acquisition of Proofpoint, 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. Thoma Bravo post acquisition experiences? As a rule, I am not a fan of financial shenanigans. 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. Proofpoint Stockholders Approve Acquisition by Thoma Bravo Proofpoint Announces CFO Transition. (I did hear someone who was an employee for 7 years got 7 weeks severance, still a joke), Have found TB acquisition really energizing. Salespeople have to explain why the new ownership is better all around, while they contend with territories being rejiggered and adjust to new sales leadership. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. Unvested stock turned to restricted cash vesting on the same schedule. - Emerce They will do all they can to not pay. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. Keep your people and their cloud apps secure by eliminating threats, avoiding data loss and mitigating compliance risk. Did TB disclose anything? 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. The pair began to move Dynatrace from selling database. Save my name, email, and website in this browser for the next time I comment. Ellie Mae lays off 10% of its staff after recent acquisition https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. 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. Thoma Bravo purchase of Proofpoint marks top private equity cloud deal The company's key investments include Barracuda Networks and Sophos, among many other firms. Episodes feature insights from experts and executives. Disarm BEC, phishing, ransomware, supply chain threats and more. 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. However, our CEO will be leaving in April 2022 on his own, which is bad for us. Cautionary Note Regarding Forward-Looking Statements. I probably stayed too long but I rose to a senior leadership level due to attrition, re-orgs, and knowing my shit and was able to move to a senior role at a fast growing public company that wouldnt have been possible otherwise. Thoma Bravo SPAC Agrees to Take IronSource Public - Bloomberg 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. Thoma Bravo has had little trouble finding companies to buy, including ones that are publicly traded. Save my name, email, and website in this browser for the next time I comment. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. Medallia, Go to company page Sep 3, 2021 3 1. Thoma Bravo achte Proofpoint dans le cadre d'un accord en espces de 12,3 milliards de dollars 0 2 minutes read La socit de cyberscurit et de conformit Proofpoint a annonc avoir conclu un rglement dfinitif devant tre obtenu par Thoma Bravo dans le cadre d'une transaction en espces qui valorise la socit environ 12,3 milliards de dollars. Instructure Restructure: Significant layoffs hitting Canvas side of the But lots can change from now til close, so Im curious whether this will *actually* happen or end up getting replaced with some sort of synthetic stock options. Thoma Bravo Completes Acquisition of Proofpoint It's a bad time. A number of project managers lost their jobs as well. Still other times, the firm who purchased the company may turn around and sell it again. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? 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.