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. Proofpoint appears to be different from the typical PE deal. . 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. 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. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. It just passed the billion-dollar revenue mark in 2020. Meet Wall Street's Best Dealmaker: New Billionaire Orlando Bravo - Forbes The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Lets see how many more , https://www.crn.com/slide-shows/security/10-things-to-know-about-the-thoma-bravo-proofpoint-deal-and-stock-hike, Apr 26, 2021 The Thoma Bravo Proofpoint deal will be the largest acquisition in cybersecurity history, beating out Broadcoms $10.7 billion purchase of , https://www.spcorders.co.za/gnk/thoma-bravo-proofpoint-layoffs, Thoma Bravo agreed to acquire Proofpoint , a cybersecurity and compliance company, for $12.3bn. 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. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. The payout comes to a little more than eight times sales, Nowinski noted, while fellow cybersecurity company CrowdStrike Holdings Inc. (CRWD) trades at about 23 times sales. 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. You have time but change will come within 1-2 years. (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. 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 . That number dropped to 1,007 by the end of the year. Cyber Security Mergers & Acquisitions - April 2021 Customers end up with less support for the products they purchased. 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. Become a channel partner. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. However, our CEO will be leaving in April 2022 on his own, which is bad for us. 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. They just laid off hundreds of people 30 days before the fist big vest. Akamai Technologies, Go to company page The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. Proofpoint Announces CFO Transition. Thoma Bravo is a leading private equity firm that focuses on software and technology. Fortunately, no layoffs, no reduction in force as of now. Proofpoint Shares Rise on Thoma Bravo Takeover Deal - WSJ Cost cutting, layoffs remain leading startup themes. 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. Acquisitions by Thoma Bravo | Tracxn . The firm is considered to be extremely hands-on, including Bravo himself. Thoma Bravo Layoffs October 12, 2022by Admin 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]. Latest Company & Industry Overviews News and Updates. With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). At the time, Forescout had 1,133 employees. 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. We are hiring..no stopping that..lets see what TB says when mgmt meets with them later this week. View in Appclose 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. Thoma Bravo is a leading private equity firm that focuses on software and technology. Source: been thru this with them before. 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.. Sophos, Go to company page 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. Access the full range of Proofpoint support services. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. 359 questions people are asking about thoma bravo - AnswerThePublic Did they affect (positively or negatively)your culture or day to day operations? The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. Save my name, email, and website in this browser for the next time I comment. The private equity . Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. 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. Last year alone saw 72 acquisitions by private equity. 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. 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. Learn about how we handle data and make commitments to privacy and other regulations. Thoma Bravo post acquisition experiences? - Blind Finally, on July 15, 2020, the two parties came to an agreement with a new deal worth about $1.67 billion. +1 to the person above who said they actively avoid companies owned by private equity firms. Deliver Proofpoint solutions to your customers and grow your business. Before the transaction was completed in September 2020, RSA transferred ownership of the core BSAFE libraries to Dell, along with the associated customer contracts. Thanks. 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. Why Thoma Bravo's Acquisition Of Proofpoint Is Good For Mimecast Proofpoint Enters Definitive Agreement to be Acquired by Thoma Bravo in Proofpoint Announces CEO Transition - Yahoo! 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. 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. Protect your people from email and cloud threats with an intelligent and holistic approach. Learn about our unique people-centric approach to protection. Customers end up May 17, 2019, 5:22 p.m. EDT 1 Min Read. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. 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. I know that my team has be reduced by 70% because everyone left. PING stock, which went public in September 2019, had lost 11.19 percent of its total value by the end of July. See Also . Disarm BEC, phishing, ransomware, supply chain threats and more. 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. The all-cash deal will take Proofpoint off the stock market and make it a . Moody's assigns B3 CFR to Proofpoint; outlook positive 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. There was a big culture change that did come with a focus on just saving money everywhere. Thoma Bravo Completes Acquisition of Proofpoint Private equity firm Thoma Bravo on Monday announced it had signed a definitive agreement to acquire the cybersecurity and compliance firm Proofpoint in a $12.3 billion all-cash deal. 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. Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. Andy Brimmer / Matthew Sherman / Jed Repko, 2023. 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. Looking for answers as we are about to go through a similar boat now. Marketing is drastically . Still other times, the firm who purchased the company may turn around and sell it again. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #vena. 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. 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. Proofpoint Thoma bravo has recently acquired proofpoint. For more information, visit thomabravo.com. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. Thoma Bravo | Leading Private Equity Firm in Software & Technology 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.