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. San Francisco, CA 94105 +1 (415) 263-3660. US DoD Server Had no Password 3TB of Sensitive Data Leaked, Cowbell Adds Free Cybersecurity Services for Insurance Policy Holders, Microsoft FAIL: BlackLotus Bootkit Breaks Secure Boot, Organizations Struggle WithCCPA, CPRA, GDPR Compliance, Add your blog to Security Bloggers Network. Thoma Bravo has been an active investor and buyer in the cybersecurity market. I left in a year of joining. 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. Sometimes, CEO and other executive replacements occur. The private equity . Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. 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. 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). Proofpoint Announces CFO Transition. Learn about the benefits of becoming a Proofpoint Extraction Partner. Defend your data from careless, compromised and malicious users. - Blind Hello to people who were part of the companies that Thoma Bravo acquired. No layoffs except ~100 in commercial sales which isnt a priority for TB. 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. 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 . We cant hire good talent in the states because compensation is anything but competitive. But attrition has been all time high, and then they put hiring freeze. In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. Find the information you're looking for in our library of videos, data sheets, white papers and more. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). 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. 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 . The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. The Thoma Bravo-Proofpoint deal will be the largest acquisition in cybersecurity history, beating out Broadcom's $10.7 billion purchase of Symantec in August 2019, Intel's $7.6 billion buy of . 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. Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. February . We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. Can I Be Laid Off While On Workers Compensation? Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. 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 . Get deeper insight with on-call, personalized assistance from our expert team. 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. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. Did TB make any promises to Proofpoint that they reneged on? 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 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. Thoma Bravo post acquisition experiences? Its terrible. Energized to find a new job after yours gets sent offshore is more accurate. 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. Learn about the latest security threats and how to protect your people, data, and brand. Secure access to corporate resources and ensure business continuity for your remote workers. Apr 26, 2021 Proofpoint Inc. Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. 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 . At Anaplan, weve been told our invested RSUs for the fiscal year will be accelerated and paid out at close. Thoma Bravo is a leading private equity firm that focuses on software and technology. Can I Be Laid Off While On Workers Compensation? As a rule, I am not a fan of financial shenanigans. . 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. 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. 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. February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. How did you guys do in terms of sale. +1 to the person above who said they actively avoid companies owned by private equity firms. SUNNYVALE, Calif. and SAN FRANCISCOThoma 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. We caught up with him ahead of the Channel Partners Conference & Expo and co-located MSP Summit, Nov. 1-4. Trustwave was, in turn, acquired by Singtel in 2015. However, our CEO will be leaving in April 2022 on his own, which is bad for us. Proofpoint 2023 State of the Phish-rapport . Prevent data loss via negligent, compromised and malicious insiders by correlating content, behavior and threats. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Any layoffs happened ? 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 . 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. Privacy Policy 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. 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 . The all-cash deal will take Proofpoint off the stock market and make it a . 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! Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. 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. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Insights about top trending companies, startups, investments and M&A activities, notable investors of Todays cyber attacks target people. How was the transition, where there a lot of layoffs?How did they compensate the employees? So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . 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. 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. It will be almost a year the aquisition was declared last April of Proofpoint . SailPoint wasn't even their largest cybersecurity acquisition by a long shot. Last year alone saw 72 acquisitions by private equity. 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 all-cash deal will take Ping from public to private. We hit a 150+% bonus payout last year which was pretty nice. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. 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. 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. 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 The Rating Outlook is Stable. This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. 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. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. 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. Help your employees identify, resist and report attacks before the damage is done. Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. If youre at a company that is being acquired, start dusting off your resume and leave. 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. The US buyout. Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . Proofpoint also disclosed Q1 2021 financial results today. Stand out and make a difference at one of the world's leading cybersecurity companies. Its recent $12.3 billion purchase of Proofpoint, . How Does a Data Breach Take Place in an Organization? They recently acquired Continuum Managed Solutions and fired 150 people within a week in a mere 2 hours without specifying any , https://www.quora.com/My-company-has-been-acquired-by-Thoma-Bravo-Should-I-consider-changing-my-job, Sep 6, 2018 After an acquisition , how long before severance packages are offered due to layoffs /downsizing? post regarding Riverbed , 10 Things To Know About The Thoma Bravo-Proofpoint Deal , thoma bravo proofpoint layoffs Superprecast |, Email Cybersecurity Firm Abnormal Hits Unicorn Status After , thoma bravo proofpoint layoffs Revista TusXV.com, An inside view of ConnectWises reduction in force : r/msp, An inside view of ConnectWises reduction in force, Thoma Bravo purchase of Proofpoint marks top private equity , Buyout firm Thoma Bravo builds war chest for software , Thoma Bravo Completes Acquisition of Proofpoint, 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. 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. reported by Reutersmight be another proof point for a market downturn. It went public in 2000. Protect your people from email and cloud threats with an intelligent and holistic approach. They just laid off hundreds of people 30 days before the fist big vest. 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. Marketing is drastically curtailed, with fewer appearances at trade shows and events in general. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. Bonuses will be paid af 100%, Did you guys meet sales target? Insider. It just passed the billion-dollar revenue mark in 2020. Former Profit 21 (now Epicor) CEO Chuck Boyle said about the firm after his own acquisition, Orlando would help not only at the highest level with strategy but also when we got grunt work done. Boyle is no longer the CEO. There were even cuts at the C suite, so I dont think any role is safe post acquisition. 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. Riverbed Technology, Go to company page With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. (Tech Industry)". Proofpoint announced that Thoma Bravo will be acquiring it for $176 per share, a 34% premium to the prior day's closing price. Everyone I knew was just recruiting all the time. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. They recently started hiring in India, so cheaper labor is the focus which makes sense because PE firms only care for profit. In April, the firm said it would buy Proofpoint Inc. in an all-cash transaction that values . Implement the very best security and compliance solution for your Microsoft 365 collaboration suite. 4 days ago Equity is a TechCrunch podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. 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. There was a big culture change that did come with a focus on just saving money everywhere. Cost cutting, layoffs remain leading startup themes. Before the transaction was completed in September 2020, RSA transferred ownership of the core BSAFE libraries to Dell, along with the associated customer contracts. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. It's a bad time. 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. 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. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. 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. The acquisition values Proofpoint at $12.3 billion, or ~8.7x 2022 . I have a job offer at proofpoint and They are saying there wont be layoffs. 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. 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. 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. Proofpoint will be privately held by private equity firm Thoma Bravo and will not have an independent board of directors. 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. However , 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. . Vista Equity Partners then acquired Websense in 2013 for $906 million. 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 . Thoma bravo has recently acquired proofpoint. 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. Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. Proofpoint, Inc. investor-relations@proofpoint.com (408) 585-4351 About Thoma Bravo Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in. Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. This model was successful enough for the company to go public in 2013. Thoma Bravo has invested in multiple sectors such as Cybersecurity, Banking Tech, GRC Software and more. Market Realist is a registered trademark. 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. Proofpoint appears to be different from the typical PE deal. Finjan has a storied past. 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. 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. AI-powered phishing: Chatbot hazard or hot air? Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. Learn about our unique people-centric approach to protection. Read the latest press releases, news stories and media highlights about Proofpoint. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. Under the terms of the all-cash agreement, Proofpoint shareholders will receive $176 per share. View in Appclose Fortunately, no layoffs, no reduction in force as of now. After the pandemic hit, Advent got cold feet and tried to back out of the deal. New. Thoma Bravo's deal to take the company. 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. 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].