It's a bad time. The US buyout. 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! I have a job offer at proofpoint and They are saying there wont be layoffs. Learn about this growing threat and stop attacks by securing todays top ransomware vector: email. All other trademarks contained herein are the property of their respective owners. More information is available at Thoma Bravo Completes Acquisition of Proofpoint, Calypso Technology and AxiomSL combine forces under new name: Adenza, PDFTron Acquires PDF-to-Office Innovator Solid Documents. 7 day notice, two week severance, no accelerated vesting so we miss the vest by 30 days. All other trademarks contained herein are the property of their respective owners. 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. Episodes feature insights from experts and executives. Deliver Proofpoint solutions to your customers and grow your business. Learn about our unique people-centric approach to protection. 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. Proofpoint's board has unanimously approved . Only sales will continue to hire. Proofpoint Hello to people who were part of the companies that Thoma Bravo acquired. 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]. More inside scoop? Apr 26, 2021 Proofpoint Inc. 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. The Rating Outlook is Stable. In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. Insider. UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. 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. Manage risk and data retention needs with a modern compliance and archiving solution. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? Become a channel partner. Anaplan, Go to company page . Proofpoint will be privately held by private equity firm Thoma Bravo and will not have an independent board of directors. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Read the release on the PR Newswire website here. The Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. 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. Did TB make any promises to Proofpoint that they reneged on? Proofpoint, Go to company page Reduce risk, control costs and improve data visibility to ensure compliance. Forcepoint journey has taken a long and winding road. Lets see how many more , Yes, Thoma Bravo is Brutal. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Learn about the human side of cybersecurity. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. 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. In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. (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. It also acquired SurfControl and Defensio. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. (Tech Industry)". But attrition has been all time high, and then they put hiring freeze. All rights reserved. His clients are vendors, investment firms, and CISOs at large enterprises. DENVER , August 3, 2022 / PRNewswire / -- Ping Identity (NYSE: PING), provider of the Intelligent Identity solution for the enterprise, today announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, for $28.50 per share in an all-cash transaction valued at an Enterprise Value . It started with the astounding acquisition of Recorded Future by Insight Partners for $780 million in 2019. Small Business Solutions for channel partners and MSPs. Thoma Bravo , a private equity firm which took Proofpoint private in a $12.3 for approximately $12.3 billion in cash. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #vena. Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Websense was one of the first content URL filtering products. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). It will be almost a year the aquisition was declared last April of Proofpoint. He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. Connect with us at events to learn how to protect your people and data from everevolving threats. 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. It was then called Raytheon|Websense. In January 2016, the entity was spun off from Raytheon and branded as Forcepoint. Thoma Bravo has made 63 acquisitions and 72 investments., 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, , Source: been thru this with them before. 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. May 17, 2019, 5:22 p.m. EDT 1 Min Read. Copyright 2023 Market Realist. +1 to the person above who said they actively avoid companies owned by private equity firms. 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. Did TB disclose anything? Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. Prevent data loss via negligent, compromised and malicious insiders by correlating content, behavior and threats. The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. The Fidelis Elevate platform provides security analytics, and is being marketed as an XDR product. 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. San Francisco, CA 94105 +1 (415) 263-3660. 20 answers No layoffs except ~100 in commercial sales which isnt a priority for TB. 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. Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. 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. Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. 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 . Akamai Technologies, Go to company page . 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. They just laid off hundreds of people 30 days before the fist big vest. The firm is considered to be extremely hands-on, including Bravo himself. About Thoma BravoThoma 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. Secure access to corporate resources and ensure business continuity for your remote workers. My TC is on par with what I could make at FAANG at 1.5 YOE in MCOL, but that's due to joining before the acquisition and my equity skyrocketing plus promotions. "We are excited . Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. 4 days ago Equity is a TechCrunch podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. 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. If youre at a company that is being acquired, start dusting off your resume and leave. Raytheon purchased Vista Equitys remaining Forcepoint stake in January 2020 for $588 million, and then announced in October 2020 that it was selling the whole company to another private equity firm, Francisco Partners. We caught up with him ahead of the Channel Partners Conference & Expo and co-located MSP Summit, Nov. 1-4. UltimatePP you think proofpoint is doing good under Thoma Bravo? Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : Privacy Policy In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Keep your people and their cloud apps secure by eliminating threats, avoiding data loss and mitigating compliance risk.