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The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . Help your employees identify, resist and report attacks before the damage is done. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. Thoma Bravo Completes Acquisition of Proofpoint, Calypso Technology and AxiomSL combine forces under new name: Adenza, PDFTron Acquires PDF-to-Office Innovator Solid Documents. 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. Email Security Company Proofpoint Acquired By Thoma Bravo - MSSP Alert Proofpoint and Thoma Bravo's Cybersecurity Network - The Deal Acquisitions by Thoma Bravo | Tracxn Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. This is especially true if the buyout occurs in light of poor stock or company performance. - Blind Hello to people who were part of the companies that Thoma Bravo acquired. Todays cyber attacks target people. 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.. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. 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 is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. 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. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. Vista Equity Partners then acquired Websense in 2013 for $906 million. Can I Be Laid Off While On Workers Compensation? We are under hiring pause till end of q1 23. List of top Thoma Bravo Portfolio Companies - Crunchbase Prevent data loss via negligent, compromised and malicious insiders by correlating content, behavior and threats. 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. 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. 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. Thoma Bravo has had little trouble finding companies to buy, including ones that are publicly traded. Apr 26, 2021 Proofpoint Inc. Become a channel partner. Proofpoint / Medallia outcome of Thoma bravo purchase - Blind Meet Wall Street's Best Dealmaker: New Billionaire Orlando Bravo - Forbes Proofpoint Stockholders Approve Acquisition by Thoma Bravo It dropped 100 people after the sale to Symphony; probably attributable to the BSAFE team staying with Dell. Save my name, email, and website in this browser for the next time I comment. They just laid off hundreds of people 30 days before the fist big vest. The all-cash deal will take Ping from public to private. Other times, its layoffs. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. I know that my team has be reduced by 70% because everyone left. Save my name, email, and website in this browser for the next time I comment. Thoma Bravo buys cybersecurity vendor Proofpoint for $12.3B in cash Did TB make any promises to Proofpoint that they reneged on? Thoma Bravo achte Proofpoint dans le cadre d'un accord en espces de Proofpoint, Go to company page Thoma Bravo Lacks Options with Proofpoint - Security Boulevard Layoffs are coming(senior leadership across the board is looking for the exit), etc. Cautionary Note Regarding Forward-Looking Statements. Thoma Bravo to Buy Cyber Firm Proofpoint for $12.3 Billion Proofpoint is traded publicly on the Nasdaq exchange and as . Can I Be Laid Off While On Workers Compensation? 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. They recently started hiring in India, so cheaper labor is the focus which makes sense because PE firms only care for profit. We hit a 150+% bonus payout last year which was pretty nice. UserTesting Inc. to lay off 63 after $1.3B acquisition, merger - San Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. 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. 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. Thoma Bravo Proofpoint Layoffs Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. 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. But attrition has been all time high, and then they put hiring freeze. Sep 3, 2021 3 1. It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. Proofpoint Announces CFO Transition. 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. 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. Learn about our unique people-centric approach to protection. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Proofpoint / Medallia outcome of Thoma bravo purchase Blind, The Great Resignation is Increasing the Risk of Data Loss, Email Cybersecurity Firm Abnormal Hits Unicorn Status After , Working at Proofpoint: 51 Reviews | Indeed.com, Cost cutting, layoffs remain leading startup themes TechCrunch, 10 Things To Know About The Thoma Bravo-Proofpoint Deal , Musks Super-Bad Feeling; an Amazon Exec Ships Out, 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. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Proofpoint Accepts $12.3 Billion Buyout From Thoma Bravo It also acquired SurfControl and Defensio. Sitemap, Thoma Bravo Completes Acquisition of Proofpoint. 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. (I did hear someone who was an employee for 7 years got 7 weeks severance, still a joke), Have found TB acquisition really energizing. Dec 6, 2021 Thoma Bravo's deals still involve lay-offs often more than 10 per cent of staff and outsourcing, shifting operations to countries with low Related Thoma Bravo Proofpoint Layoffs July 24, 2022 In "T Layoffs" Thoma Bravo Realpage Layoffs October 1, 2022 In "T Layoffs" Thoma Bravo Layoffs October 12, 2022 In "T Layoffs" 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 agrees $12.3bn deal for cyber security group Proofpoint Last year, it bought ProofPoint for $12.3 billion. We are hiring..no stopping that..lets see what TB says when mgmt meets with them later this week. 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. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Connect with us at events to learn how to protect your people and data from everevolving threats. #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page Learn about the technology and alliance partners in our Social Media Protection Partner program. 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. We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. 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. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. It's a bad time. Episodes feature insights from experts and executives. Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). Copyright 2023 Market Realist. Thoma Bravo takes a stake in threat intelligence provider Intel 471 The private equity . Splunk, Go to company page 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 . +1 to the person above who said they actively avoid companies owned by private equity firms. 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's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. 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. A group of private equity firms acquired McAfee's consumer business for $14 billion. View in Appclose He had to wait to quit so he gets that payout, Check out this post! 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. Proofpoint: Partners to Benefit from Thoma Bravo Acquisition Then massive cost cutting, layoffs and likely a change in their executives. Bonuses will be paid af 100%, Did you guys meet sales target? 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 . Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. Thoma Bravo is a private equity firm with a focus on investing in software and technology companies. U.S. private equity giant Thoma Bravo acquires SailPoint - CNBC Andy Brimmer / Matthew Sherman / Jed Repko, 2023. Medallia, Go to company page investor-relations@proofpoint.com (408) 585-4351. Everyone I knew was just recruiting all the time. Thoma Bravo Completes Acquisition of Proofpoint Under the terms of the all-cash agreement, Proofpoint shareholders will receive $176 per share. 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. Riverbed Technology, Go to company page Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. 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. Proofpoint Enters Definitive Agreement to be Acquired by Thoma Bravo in 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. Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. You have time but change will come within 1-2 years. In 2019, Bravo became the first billionaire born in Puerto Rico. 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. He researches and reports on 2,615 IT security vendors. thoma bravo acquisitions layoffs . 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 Reviews: What Is It Like to Work At Proofpoint? Now that it has been taken private by Fortress Investment Group LLC, it will continue to be a thorn in the side of any cybersecurity company deemed to be infringing on its patents. Customers end up with less support for the products they purchased. WhiteSource, an o pen source security firm, has acquired Diffend, an innovative software supply chain security service. Customers end up Thoma Bravo's deal to take the company. 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. 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. Energized to find a new job after yours gets sent offshore is more accurate.