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Save my name, email, and website in this browser for the next time I comment. 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 Episodes feature insights from experts and executives. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. In January 2016, the entity was spun off from Raytheon and branded as Forcepoint. Looking for answers as we are about to go through a similar boat now. Proofpoint Accepts $12.3 Billion Buyout From Thoma Bravo All Rights Reserved. Thoma bravo acquires proofpoint - Blind 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. Apr 26, 2021 Proofpoint Inc. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. Anaplan, Go to company page 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. 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. 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. 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. Insider. Sophos, Go to company page Thoma Bravo has made 63 acquisitions and 72 investments. 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 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 . Save my name, email, and website in this browser for the next time I comment. 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. 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. Thoma Bravo Completes Acquisition of Proofpoint They recently started hiring in India, so cheaper labor is the focus which makes sense because PE firms only care for profit. 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. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. Proofpoint Announces CEO Transition - Yahoo! Proofpoint 2023 State of the Phish-rapport . See Also . 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. Proofpoint: Partners to Benefit from Thoma Bravo Acquisition Under the . Proofpoint is traded publicly on the Nasdaq exchange and as . Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Proofpoint Announces CFO Transition Access the full range of Proofpoint support services. Citigroup Cuts Hundreds of Jobs, Including in Investment Banking and Should I , RealPage It was great until Thoma Bravo Glassdoor, An inside view of ConnectWises reduction in force : r/msp, An inside view of ConnectWises reduction in force, Insights from Thoma Bravo and Frontline Education for , Proofpoint / Medallia outcome of Thoma bravo purchase Blind, Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Ellie Mae announces layoffs of 10% of its staff HousingWire, 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. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. Unvested stock turned to restricted cash vesting on the same schedule. About Thoma Bravo. Thoma Bravo Proofpoint Layoffs Proofpoint / Medallia outcome of Thoma bravo purchase - Blind 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. PING stock, which went public in September 2019, had lost 11.19 percent of its total value by the end of July. Fortunately, no layoffs, no reduction in force as of now. post regarding Riverbed . Sometimes, CEO and other executive replacements occur. Mimecast Rejects Thoma Bravo, Proofpoint Buyout Offer: Report It showed revenue growth of 15% in the first quarter of 2021; $288 million. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Privacy Policy Thoma Bravo Plots Next Fund in Red-Hot Market for Tech Deals How was the transition, where there a lot of layoffs?How did they compensate the employees? How did you guys do in terms of sale. 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. nekx83aaxs Thanks for this . How Does a Data Breach Take Place in an Organization? Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. 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. Thoma Bravo post acquisition experiences? - Blind Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. U.S. private equity giant Thoma Bravo acquires SailPoint - CNBC New. For more information, visit thomabravo.com. Proofpoint was founded as an email security solution, , https://tusxv.com/7zup1o8/thoma-bravo-proofpoint-layoffs. Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. Offers may be subject to change without notice. Proofpoint and Thoma Bravo's Cybersecurity Network - The Deal 4 days ago Equity is a TechCrunch podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Become a channel partner. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. 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. Websense was one of the first content URL filtering products. In April, the firm said it would buy Proofpoint Inc. in an all-cash transaction that values . Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. 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. It will be almost a year the aquisition was declared last April of Proofpoint. The firm has offices in Chicago, Miami and San Francisco. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. Did they affect (positively or negatively)your culture or day to day operations? 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. Thoma bravo has recently acquired proofpoint. 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. Implement the very best security and compliance solution for your Microsoft 365 collaboration suite. Thoma Bravo Completes Acquisition of Proofpoint, Calypso Technology and AxiomSL combine forces under new name: Adenza, PDFTron Acquires PDF-to-Office Innovator Solid Documents. Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. 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. Customers end up Thoma Bravo, a private equity firm, has agreed to purchase Proofpoint for $12.3 billion in the biggest cybersecurity acquisition of all time. Its recent $12.3 billion purchase of Proofpoint, . Did TB make any promises to Proofpoint that they reneged on? A number of project managers lost their jobs as well. SUNNYVALE, Calif. and SAN FRANCISCO 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 is buying out Ping at a value of $28.50 per share, a 63-percent premium from the stocks price prior to the announcement. List of top Thoma Bravo Portfolio Companies - Crunchbase Disarm BEC, phishing, ransomware, supply chain threats and more. All rights reserved. Thoma Bravo Acquisitions Layoffs - GoLayoffs AI-powered phishing: Chatbot hazard or hot air? Secure access to corporate resources and ensure business continuity for your remote workers. Everyone I knew was just recruiting all the time. Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. Cost cutting, layoffs remain leading startup themes. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #vena. Ping Identity to be Acquired by Thoma Bravo for $2.8 Billion . Thoma Bravo buys cybersecurity vendor Proofpoint for $12.3B in cash Can I Be Laid Off While On Workers Compensation? The pair began to move Dynatrace from selling database. Under the terms of the all-cash agreement, Proofpoint shareholders will receive $176 per share. Splunk, Go to company page At face value, fair enough. 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. He was a Research VP at Gartner. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. 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.. Sitemap, Thoma Bravo Completes Acquisition of Proofpoint. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. Deliver Proofpoint solutions to your customers and grow your business. Thoma Bravo's deal to take the company. Vista Equity Partners then acquired Websense in 2013 for $906 million. Should I trust the word or simply not accept the offer? 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. In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. Eng, Compensation has been poor, attrition is sky high, wlb is non existent. It started with the astounding acquisition of Recorded Future by Insight Partners for $780 million in 2019. The company said this. Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. 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. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. Why Thoma Bravo's Acquisition Of Proofpoint Is Good For Mimecast February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. Moody's assigns B3 CFR to Proofpoint; outlook positive Thoma. Source: been thru this with them before. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. Learn about our unique people-centric approach to protection. Proofpoint Enters Definitive Agreement to be Acquired by Thoma Bravo in Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Todays cyber attacks target people. Reduce risk, control costs and improve data visibility to ensure compliance. 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 . The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. Learn about how we handle data and make commitments to privacy and other regulations. 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. Proofpoint's board has unanimously approved . Email Security Company Proofpoint Acquired By Thoma Bravo - MSSP Alert 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. Thoma Bravo post acquisition experiences? Read the release on the PR Newswire website here. The proceeds along with sponsor equity from Thoma Bravo will be used for Thoma Bravo's acquisition of . Thoma Bravo Completes Acquisition of Proofpoint 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. Thoma 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. Save my name, email, and website in this browser for the next time I comment. A group of private equity firms acquired McAfee's consumer business for $14 billion. He researches and reports on 2,615 IT security vendors. Riverbed Technology, Go to company page 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 . 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, Go to company page Thoma Bravo's blank-check firm has reached an agreement to take app software company ironSource public through a merger that values the combined business at $11.1 billion. . Is the Market for Hardware Security Appliances Doomed? 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]. 2/ That Thoma Bravo is the suitor is likely no coincidence; they're set to also acquire fellow identity security company SailPoint in the second half of 2022.Betting they combine $PING and $SAIL then bring them public as a bigger, stronger business down the road. Thoma Bravo has invested in multiple sectors such as Cybersecurity, Banking Tech, GRC Software and more. Security vendor Proofpoint snapped up by private equity for $12.3bn but Any signing bonus is not worth the hassle of dealing with these spreadsheet jockeys. Thoma Bravo is buying Proofpoint in a $12.3 billion all-cash deal Should I not even entertain the idea of a job offer with them anymore? You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. Learn about our people-centric principles and how we implement them to positively impact our global community. 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! 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, Go to company page 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. Anaplan, Go to company page Learn about the human side of cybersecurity. Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. 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.As a rule, I am not a fan of financial shenanigans. 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 . Special Meeting of Stockholders to Vote on Pending Acquisition by Thoma Bravo to be Scheduled for Later DateSUNNYVALE, Calif., June 14, 2021 (GLOBE NEWSWIRE) -- Proofpoint, Inc. (NASDAQ: PFPT), a . The all-cash deal will take Ping from public to private. It was then called Raytheon|Websense. Medallia, Go to company page 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. Trustwave was, in turn, acquired by Singtel in 2015. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Most of our engineering/devOps/implementation teams are already offshore, so lets see what happens. 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. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. Learn about our relationships with industry-leading firms to help protect your people, data and brand. Proofpoint also disclosed Q1 2021 financial results today. It isn't clear yet what Thoma Bravo has planned for Ping Identity and SailPoint. Thoma Bravo already acquired Proofpoint for $12.3 billion in April 2021. Thoma Bravo Completes Acquisition of Proofpoint