It will be almost a year the aquisition was declared last April of Proofpoint. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. As a rule, I am not a fan of financial shenanigans. 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. How was the transition, where there a lot of layoffs?How did they compensate the employees? I know that my team has be reduced by 70% because everyone left. 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. Thoma bravo has recently acquired proofpoint. 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. Proofpoint, Go to company page 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. Did they affect (positively or negatively)your culture or day to day operations? reported by Reutersmight be another proof point for a market downturn. 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. Thoma Bravo said it's buying security software vendor Proofpoint in a deal valued at $12.3 billion. About Thoma Bravo. Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. Its recent $12.3 billion purchase of Proofpoint, . 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. 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.. 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]. 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. Mimecast Email Security Business Background, Challenges 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. The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. 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. Learn about the benefits of becoming a Proofpoint Extraction Partner. 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 Thanks. The pair began to move Dynatrace from selling database. Fortunately, no layoffs, no reduction in force as of now. He was a Research VP at Gartner. post regarding Riverbed . Episodes feature insights from experts and executives. Any time a private equity firm purchases a company in full, changes may occur. Manage risk and data retention needs with a modern compliance and archiving solution. Prevent data loss via negligent, compromised and malicious insiders by correlating content, behavior and threats. Should I not even entertain the idea of a job offer with them anymore? Most of our engineering/devOps/implementation teams are already offshore, so lets see what happens. Under the terms of the all-cash agreement, Proofpoint shareholders will receive $176 per share. Insights about top trending companies, startups, investments and M&A activities, notable investors of 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. April 26 (Reuters) - Private equity firm Thoma Bravo said on Monday it would buy Proofpoint Inc (PFPT.O) in an all-cash deal that valued the cybersecurity firm at about $12.3 billion, at a. Its business model seems to be to engage in lawsuits against other security technology companies, forcing them to pay licensing fees. 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. WhiteSource, an o pen source security firm, has acquired Diffend, an innovative software supply chain security service. Get deeper insight with on-call, personalized assistance from our expert team. Proofpoint Announces CFO Transition. Eng, Compensation has been poor, attrition is sky high, wlb is non existent. San Francisco, CA 94105 +1 (415) 263-3660. Last year alone saw 72 acquisitions by private equity. Any layoffs happened ? 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. May 17, 2019, 5:22 p.m. EDT 1 Min Read. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. 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 . Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). 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 . 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. In the largest-ever private equity investment in cloud software, Thoma Bravo has agreed to acquire Proofpoint for $12.3 billion to boost its cybersecurity profile. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #vena. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. Proofpoint 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. 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. 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 He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. Financial policies are expected to be aggressive as highlighted by the high leverage at closing and significant restructuring plans. Publicly traded Finjan was acquired by an investment group in a deal valued at $43.9 million, announced in June 2020. Thoma Bravo post acquisition experiences? How many people were fired after Thoma Bravo acquired you? Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. 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! Learn about the technology and alliance partners in our Social Media Protection Partner program. No layoffs except ~100 in commercial sales which isnt a priority for TB. 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. 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 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. It will be almost a year the aquisition was declared last April of Proofpoint. 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. The Rating Outlook is Stable. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. (Tech Industry)". post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. For more information, visit thomabravo.com. 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. Learn about our relationships with industry-leading firms to help protect your people, data and brand. Proofpoint's board has unanimously approved . More information is available at www.proofpoint.com. 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. Save my name, email, and website in this browser for the next time I comment. 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. Fortunately, no layoffs, no reduction in force as of now. 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. Still other times, the firm who purchased the company may turn around and sell it again. 51 reviews from Proofpoint employees about Proofpoint culture, salaries, benefits, work-life balance, management, job security, and more. RealPage It was great until Thoma Bravo Glassdoor, Dynatrace Employee Reviews about thoma bravo Glassdoor, My company has been acquired by Thoma Bravo. They will do all they can to not pay. Websense was one of the first content URL filtering products. Oct 20, 2020 Got an email from our CEO confirming that Thoma Bravo will be acquiring a controlling interest in our firm. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. Cautionary Note Regarding Forward-Looking Statements. I left in a year of joining. This is especially true if the buyout occurs in light of poor stock or company performance. Thoma Bravo , a private equity firm which took Proofpoint private in a $12.3 for approximately $12.3 billion in cash. Thoma Bravo Completes Acquisition of Proofpoint, Calypso Technology and AxiomSL combine forces under new name: Adenza, PDFTron Acquires PDF-to-Office Innovator Solid Documents. View in Appclose 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. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. 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. It went public in 2000. 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. Thoma Bravo is a leading private equity firm that focuses on software and technology. In 2019, Bravo became the first billionaire born in Puerto Rico. At face value, fair enough. Help your employees identify, resist and report attacks before the damage is done. 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 . A group of private equity firms acquired McAfee's consumer business for $14 billion. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Become a channel partner. Secure access to corporate resources and ensure business continuity for your remote workers. Thoma Bravo recently purchased SailPoint for a second time for $6.9 billion. SUNNYVALE, Calif. Proofpoint, Inc., a leading cybersecurity and compliance company, today announced that Rmi Thomas has been appointed as chief financial officer, effective immediately. 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). There will be a layoff but there will be opportunities if youre good and you stay. Finjan has a storied past. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. Offers may be subject to change without notice. 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. 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. More inside scoop? Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. However, our CEO will be leaving in April 2022 on his own, which is bad for us. 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. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. 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. 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. Terms and conditions 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. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Lost some good folk as part of restructuring and some parts of the biz now stretched, but margins are now great and the company has a really positive culture and is growing in the right places. Learn about the latest security threats and how to protect your people, data, and brand. Layoffs are coming(senior leadership across the board is looking for the exit), etc. Save my name, email, and website in this browser for the next time I comment. richard-stiennon has 11 posts and counting.See all posts by richard-stiennon, Click full-screen to enable volume control, Thoma Bravo Lacks Options with Proofpoint, USENIX Security '22 - Yanxue Jia, Shi-Feng Sun, Hong-Sheng Zhou, Jiajun Du, Dawu Gu - Shuffle-based Private Set Union: Faster and More Secure, SafeBreach Coverage for US-CERT Alert (AA23-061A) Royal Ransomware, Digital Trust & Safety Roundup: Costly chargebacks, dynamically fighting ATO, and social media scam risks, Defeating Malvertising-Based Phishing Attacks, Update on the Executive Order on Improving the Nations Cybersecurity. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. Find the information you're looking for in our library of videos, data sheets, white papers and more. +1 to the person above who said they actively avoid companies owned by private equity firms. 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. All Rights Reserved. This is followed by high rates of attrition by disrespecting the talented staff that stay and moving any new engineering jobs to offshore vendors. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. About Proofpoint, Inc.Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people.