About Proofpoint, Inc.Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. Sep 3, 2021 3 1. 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. 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. 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.. I feel bad for the people. Thoma Bravo has made 63 acquisitions and 72 investments. They recently started hiring in India, so cheaper labor is the focus which makes sense because PE firms only care for profit. The all-cash deal will take Ping from public to private. 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 In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. PING stock, which went public in September 2019, had lost 11.19 percent of its total value by the end of July. Did they affect (positively or negatively)your culture or day to day operations? SailPoint wasn't even their largest cybersecurity acquisition by a long shot. We are under hiring pause till end of q1 23. The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . Bravo, Thoma Bravo - Security Boulevard Last year alone saw 72 acquisitions by private equity. No layoffs except ~100 in commercial sales which isnt a priority for TB. 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. Proofpoint. We hit a 150+% bonus payout last year which was pretty nice. Under the . Looking for answers as we are about to go through a similar boat now. (Bloomberg) -- 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.The private equity firm is offering $176 per share in cash, representing a 34% premium to Proofpoint's Friday closing price, according to a statement Monday. 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. Keep your people and their cloud apps secure by eliminating threats, avoiding data loss and mitigating compliance risk. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. Thoma Bravo purchase of Proofpoint marks top private equity cloud deal 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. In the latest development, private equity giant Thoma Bravo is buying Proofpoint, the SaaS security vendor, for $12.3 billion in cash. Thoma Bravo Acquisitions Layoffs - GoLayoffs Cybersecurity firm Proofpoint to be acquired for $12.3bn - Silicon Republic Before the transaction was completed in September 2020, RSA transferred ownership of the core BSAFE libraries to Dell, along with the associated customer contracts. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. 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. Access the full range of Proofpoint support services. 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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. Andy Brimmer / Matthew Sherman / Jed Repko, 2023. Thoma Bravo Completes Acquisition of Proofpoint post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. For more information, visit thomabravo.com. Mimecast Email Security Business Background, Challenges Proofpoint Stockholders Approve Acquisition by Thoma Bravo It isn't clear yet what Thoma Bravo has planned for Ping Identity and SailPoint. 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. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Thoma Bravo , a private equity firm which took Proofpoint private in a $12.3 for approximately $12.3 billion in cash. Disarm BEC, phishing, ransomware, supply chain threats and more. - Emerce We are hiring..no stopping that..lets see what TB says when mgmt meets with them later this week. . He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. An inside view of ConnectWises reduction in force from msp, When asked whether more layoffs were coming, Jason said that without Covid the My company is a Thoma Bravo deal as well and your description of those , https://www.cnbc.com/2021/04/26/thoma-bravo-purchase-of-proofpoint-marks-top-private-equity-cloud-deal.html, Apr 26, 2021 Proofpoint shares surged 31% on Monday after private equity firm Thoma Bravo agreed to buy the security software vendor in a deal valued at , Buyout firm Thoma Bravo builds war chest for software companies, Thoma Bravos transactions nonetheless embody layoffs (usually 10% or extra of employees) and outsourcing, shifting operations to international locations , https://www.thomabravo.com/press-releases/thoma-bravo-completes-acquisition-of-proofpoint. . The US buyout. In light of the announced transaction with Thoma Bravo, Proofpoint has cancelled its earnings conference call previously scheduled for April 29, 2021. Protect your people from email and cloud threats with an intelligent and holistic approach. The company's key investments include Barracuda Networks and Sophos, among many other firms. They cut across the org - DevOps got sent offshore first, followed by a lot of SWE. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #venafi, Go to company page https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. Medallia, Go to company page Thoma Bravo already acquired Proofpoint for $12.3 billion in April 2021. Proofpoint Reviews: What Is It Like to Work At Proofpoint? 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. 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 . A number of project managers lost their jobs as well. Websense was one of the first content URL filtering products. AI-powered phishing: Chatbot hazard or hot air? This is especially true if the buyout occurs in light of poor stock or company performance. Based on prior public filings, the company eliminated approximately 160 positions. Thoma Bravo to Buy Proofpoint for $12.3 Billion - BankInfoSecurity 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. 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. Still other times, the firm who purchased the company may turn around and sell it again. However, our CEO will be leaving in April 2022 on his own, which is bad for us. Thoma Bravo will likely spend time directly helping to manage these companies and infiltrate themselves into the business to better understand what direction they want to take it. 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. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. How did they handle unvested stock at acquisition? 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. That number dropped to 1,007 by the end of the year. 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. It will be almost a year the aquisition was declared last April of Proofpoint. For more information, visit thomabravo.com. 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, 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. If youre at a company that is being acquired, start dusting off your resume and leave. The pair began to move Dynatrace from selling database. In this wide-ranging interview, he also tells editorial director Craig Galbraith about . Meet Wall Street's Best Dealmaker: New Billionaire Orlando Bravo - Forbes #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. richard-stiennon has 11 posts and counting.See all posts by richard-stiennon, Click full-screen to enable volume control, Thoma Bravo Lacks Options with Proofpoint, USENIX Security '22 - Yanxue Jia, Shi-Feng Sun, Hong-Sheng Zhou, Jiajun Du, Dawu Gu - Shuffle-based Private Set Union: Faster and More Secure, SafeBreach Coverage for US-CERT Alert (AA23-061A) Royal Ransomware, Digital Trust & Safety Roundup: Costly chargebacks, dynamically fighting ATO, and social media scam risks, Defeating Malvertising-Based Phishing Attacks, Update on the Executive Order on Improving the Nations Cybersecurity. How many people were fired after Thoma Bravo acquired you? We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. Proofpoint announced that Thoma Bravo will be acquiring it for $176 per share, a 34% premium to the prior day's closing price. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. post regarding Riverbed . Thoma Bravo always does a 15-20% RIF a few months after the deal closes. Shargo: Not completely random, but reasonable behind the decided price for the equity isnt perfect. Gary Steele, chairman and CEO of Proofpoint, said in a press release . Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. 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. Email Security Company Proofpoint Acquired By Thoma Bravo - MSSP Alert Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. The company said this. After the pandemic hit, Advent got cold feet and tried to back out of the deal. Instructure Restructure: Significant layoffs hitting Canvas side of the 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. Did TB make any promises to Proofpoint that they reneged on? Read the release on the PR Newswire website here. Save my name, email, and website in this browser for the next time I comment. About Thoma Bravo. Proofpoint and medallia employees what has been your experience post the Thoma Bravo acquisition? Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. 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. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. It will be almost a year the aquisition was declared last April of Proofpoint. Learn about our unique people-centric approach to protection. 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. 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. List of top Thoma Bravo Portfolio Companies - Crunchbase How was the transition, where there a lot of layoffs?How did they compensate the employees? 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. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. How Does a Data Breach Take Place in an Organization? It dropped 100 people after the sale to Symphony; probably attributable to the BSAFE team staying with Dell. Thoma Bravo is a private equity firm with a focus on investing in software and technology companies. 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 Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. 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 used $675 million in cash and raised $1.8 billion in debt to buy Compuware and then split off Dynatrace as a separate company. It just passed the billion-dollar revenue mark in 2020. This is followed by high rates of attrition by disrespecting the talented staff that stay and moving any new engineering jobs to offshore vendors. Proofpoint Announces CFO Transition Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). The acquisition of Proofpoint by private equity firm Thoma Bravo is reaping rewards for the security provider's partners. The firm has offices in Chicago, Miami and San Francisco. Security vendor Proofpoint snapped up by private equity for $12.3bn but 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.