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. 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. He had to wait to quit so he gets that payout, Check out this post! Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? 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. Deliver Proofpoint solutions to your customers and grow your business. Layoffs are coming(senior leadership across the board is looking for the exit), etc. Sitemap, Thoma Bravo Completes Acquisition of Proofpoint. The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . 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 All other trademarks contained herein are the property of their respective owners. PING stock, which went public in September 2019, had lost 11.19 percent of its total value by the end of July. For more information, visit thomabravo.com. Email Security Company Proofpoint Acquired By Thoma Bravo - MSSP Alert Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. The firm is considered to be extremely hands-on, including Bravo himself. View in Appclose Thoma Bravo has agreed to take cyber security company Proofpoint private in a $12.3bn deal, as the technology-focused private equity firm continues its push for bigger deals. 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. Proofpoint and medallia employees what has been your experience post the Thoma Bravo acquisition? Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. Any signing bonus is not worth the hassle of dealing with these spreadsheet jockeys. 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. UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. Founded in 1997 in Israel with technology that could be used to counter modern viruses (so-called polymorphic) and DRM technology, it pivoted several times and was ultimately acquired by M86 Security in 2009. Proofpoint Stockholders Approve Acquisition by Thoma Bravo Did TB make any promises to Proofpoint that they reneged on? How were *unvested* RSUs handled? Trustwave was, in turn, acquired by Singtel in 2015. 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. 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. Thoma Bravo is a leading private equity firm that focuses on software and technology. Learn about our unique people-centric approach to protection. Thoma Bravo to Buy Proofpoint for $12.3B - CFO I recorded them in Security Yearbook 2021. 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. Proofpoint Stockholders Approve Acquisition by Thoma Bravo "We are excited . Fortunately, no layoffs, no reduction in force as of now. Disarm BEC, phishing, ransomware, supply chain threats and more. 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. 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. 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. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. I think you have got the answer in your other post. Proofpoint also disclosed Q1 2021 financial results today. How was the transition, where there a lot of layoffs?How did they compensate the employees? Thoma Bravo Acquires Proofpoint For $12.3B | PYMNTS.com (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. The US buyout. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. AI-powered phishing: Chatbot hazard or hot air? Proofpoint Announces Cancellation of its 2021 Annual Meeting of Proofpoint Announces Expiration of "Go-Shop" Period 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. nekx83aaxs Thanks for this . There were even cuts at the C suite, so I dont think any role is safe post acquisition. Moody's assigns B3 CFR to Proofpoint; outlook positive 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. Interestingly, Thoma Bravo was allegedly thinking about buying Twitter before Elon Musk announced he would buy it for $44 billion (a deal that Musk has subsequently attempted to back out of). How many people were fired after Thoma Bravo acquired you? Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. Keep up with the latest news and happenings in the everevolving cybersecurity landscape. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. The all-cash deal will take Ping from public to private. Proofpoint, the Nasdaq-listed cybersecurity firm, is being acquired by private equity giant Thoma Bravo for $12.3bn. The proceeds along with sponsor equity from Thoma Bravo will be used for Thoma Bravo's acquisition of . 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. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Russia-Ukraine War: Cybersecurity Lessons for Tech Pros, Proofpoints 2023 State of the Phish Report: Threat Actors Double Down on Emerging and Tried-and-Tested Tactics to Outwit Employees, Proofpoint Offers More Simplicity with New Element Partner Program, Intelligent Classification and Protection, Managed Services for Security Awareness Training, Managed Services for Information Protection. Citigroup Cuts Hundreds of Jobs, Including in Investment Banking and 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. Learn about the latest security threats and how to protect your people, data, and brand. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. Marketing is drastically curtailed, with fewer appearances at trade shows and events in general. Why Thoma Bravo's Acquisition Of Proofpoint Is Good For Mimecast
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