- Blind Hello to people who were part of the companies that Thoma Bravo acquired. 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. It started with the astounding acquisition of Recorded Future by Insight Partners for $780 million in 2019. Proofpoint was founded as an email security solution, , https://tusxv.com/7zup1o8/thoma-bravo-proofpoint-layoffs. 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. It will be almost a year the aquisition was declared last April of Proofpoint. 51 reviews from Proofpoint employees about Proofpoint culture, salaries, benefits, work-life balance, management, job security, and more. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. 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 . At face value, fair enough. Under the . If youre at a company that is being acquired, start dusting off your resume and leave. In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. The $800 million second-lien secured term loan is not rated. Eng, Compensation has been poor, attrition is sky high, wlb is non existent. 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. Finjan has a storied past. 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. 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. Marketing is drastically , Thoma Bravo recently acquired Realpage and more than 10% was laid off during the 1st round, a 2nd round just laid off 600 more people. Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. New. Access the full range of Proofpoint support services. . Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . Did TB make any promises to Proofpoint that they reneged on? 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. He researches and reports on 2,615 IT security vendors. 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. UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. 20 answers No layoffs except ~100 in commercial sales which isnt a priority for TB. Proofpoint 2023 State of the Phish-rapport . They will do all they can to not pay. Proofpoint, Go to company page Learn about our people-centric principles and how we implement them to positively impact our global community. 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. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. Only sales will continue to hire. Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). Keep up with the latest news and happenings in the everevolving cybersecurity landscape. The firm is considered to be extremely hands-on, including Bravo himself. It will be almost a year the aquisition was declared last April 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. Terms and conditions Is bonus performance based or based on ebidta. 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. In a deal described as underlining its status as a powerhouse in the sector, cyber security and compliance company Proofpoint is to be acquired by private equity (PE) firm Thoma Bravo. Lets see how many more , Yes, Thoma Bravo is Brutal. . https://www.teamblind.com/post/Proofpoint-Medallia-outcome-of-Thoma-bravo-purchase-YdfZ7Lkk, Mar 22, 2022 Fortunately, no layoffs , no reduction in force as of now. There were even cuts at the C suite, so I dont think any role is safe post acquisition. The company said this. nekx83aaxs Thanks for this . 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. Cost cutting, layoffs remain leading startup themes. 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. AI-powered phishing: Chatbot hazard or hot air? February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : Marketing is drastically . Last year, it bought ProofPoint for $12.3 billion. 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. Finally, on July 15, 2020, the two parties came to an agreement with a new deal worth about $1.67 billion. 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. 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. Sep 3, 2021 3 1. Proofpoint's board has unanimously approved . 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. Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. The private equity firm has more than $103 billion in assets , https://news.crunchbase.com/cybersecurity/cybersecurity-abnormal-unicorn-proofpoint-insight-partners/, May 10, 2022 equity giant Thoma Bravo bought publicly traded Proofpoint for $12.3 billion. Should I not even entertain the idea of a job offer with them anymore? Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Learn about our unique people-centric approach to protection. 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. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. 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. More information is available at www.proofpoint.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. In this wide-ranging interview, he also tells editorial director Craig Galbraith about . 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 Bravos acquisition of Proofpoint for approximately $12.3 billion in cash. 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. Learn about the technology and alliance partners in our Social Media Protection Partner program. 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. Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. How many people were fired after Thoma Bravo acquired you? 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. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. . Thoma Bravo has been an active investor and buyer in the cybersecurity market. Proofpoint is a leading cybersecurity company that protects organizations' greatest assets and biggest risks: their people. (Tech Industry)". 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. True to Insights past performance with Recorded Future, they have continued to invest and grow Armis, which had 372 employees at the end of 2020, a 41% growth rate. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. 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. Stand out and make a difference at one of the world's leading cybersecurity companies. Thoma Bravo recently acquired Realpage and more than 10% was laid off during the 1st round, a 2nd round just laid off 600 more people. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. Copyright 2023 Market Realist. Proofpoint announced that Thoma Bravo will be acquiring it for $176 per share, a 34% premium to the prior day's closing price. 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. The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. Find the information you're looking for in our library of videos, data sheets, white papers and more. Thoma bravo has recently acquired proofpoint. Small Business Solutions for channel partners and MSPs. With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. 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 used $675 million in cash and raised $1.8 billion in debt to buy Compuware and then split off Dynatrace as a separate company. Riverbed Technology, Go to company page It will be almost a year the aquisition was declared last April of Proofpoint. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. . Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. I left in a year of joining. Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. Often, the company is saddled with debt to finance the deal. Bonuses will be paid af 100%, Did you guys meet sales target? San Francisco, CA 94105 +1 (415) 263-3660. 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. (I did hear someone who was an employee for 7 years got 7 weeks severance, still a joke), Have found TB acquisition really energizing. We are under hiring pause till end of q1 23. SUNNYVALE & SAN FRANCISCO, Calif., April 26, 2021 -- Proofpoint, Inc. (NASDAQ: PFPT) (the "Company"), a leading cybersecurity and compliance company, today announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. Proofpoint May 17, 2019, 5:22 p.m. EDT 1 Min Read. 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. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. See Also . 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. Thoma Bravo recently purchased SailPoint for a second time for $6.9 billion. Save my name, email, and website in this browser for the next time I comment. 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 . 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. However, Thoma Bravo is unique due to its intense focus on the software space (and, more specifically, cybersecurity). Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. 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" Any time a private equity firm purchases a company in full, changes may occur. 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. At Anaplan, weve been told our invested RSUs for the fiscal year will be accelerated and paid out at close. 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 Did TB disclose anything? Save my name, email, and website in this browser for the next time I comment. When private equity shows up to a deal, it usually spells disaster for everyone but the investors.