Become a channel partner. There was a big culture change that did come with a focus on just saving money everywhere. A group of private equity firms acquired McAfee's consumer business for $14 billion. 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. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. It started with the astounding acquisition of Recorded Future by Insight Partners for $780 million in 2019. The company said this. Proofpoint's board has unanimously approved . 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. It will be almost a year the aquisition was declared last April of Proofpoint. Sophos, Go to company page 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. That number dropped to 1,007 by the end of the year. 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. Fortunately, no layoffs, no reduction in force as of now. The all-cash deal will take Ping from public to private. 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. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. They recently started hiring in India, so cheaper labor is the focus which makes sense because PE firms only care for profit. It dropped 100 people after the sale to Symphony; probably attributable to the BSAFE team staying with Dell. 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. Thanks. Proofpoint, Go to company page Can I Be Laid Off While On Workers Compensation? As part of its rapid and successful transition to operating as a private company under Thoma Bravo, L.P. ownership, Proofpoint also announced an accelerated plan to hire over 600 people in 2022 . reported by Reutersmight be another proof point for a market downturn. Todays cyber attacks target people. 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. His clients are vendors, investment firms, and CISOs at large enterprises. 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 . 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. 51 reviews from Proofpoint employees about Proofpoint culture, salaries, benefits, work-life balance, management, job security, and more. Insider. All rights reserved. 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 . With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. Then massive cost cutting, layoffs and likely a change in their executives. 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 Engaged Employer Overview 767 Reviews 160 Jobs 868 Salaries 249 Interviews 272 Benefits 37 Photos 268 Diversity + Add a Review Proofpoint Reviews Updated Feb 28, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 700 of over 768 Sort Popular Popular COVID-19 Related Highest Rating Lowest Rating Most Recent Oldest First 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. 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. Proofpoint will be privately held by private equity firm Thoma Bravo and will not have an independent board of directors. . That's the current leader for largest cybersecurity acquisition of all time. We are hiring..no stopping that..lets see what TB says when mgmt meets with them later this week. New. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. Thoma. Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. Connect with us at events to learn how to protect your people and data from everevolving threats. All other trademarks contained herein are the property of their respective owners. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. Thoma Bravo is a leading private equity firm that focuses on software and technology. Should I not even entertain the idea of a job offer with them anymore? 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. Cautionary Note Regarding Forward-Looking Statements. Mimecast Email Security Business Background, Challenges Only sales will continue to hire. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. The private equity . 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. It also acquired SurfControl and Defensio. The proceeds along with sponsor equity from Thoma Bravo will be used for Thoma Bravo's acquisition of . For more information, visit thomabravo.com. More inside scoop? Last year, it bought ProofPoint for $12.3 billion. Proofpoint 2023 State of the Phish-rapport . 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. Did TB make any promises to Proofpoint that they reneged on? Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. Medallia, Go to company page Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. 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. Access the full range of Proofpoint support services. Financial policies are expected to be aggressive as highlighted by the high leverage at closing and significant restructuring plans. Akamai Technologies, Go to company page The firm has offices in Chicago, Miami and San Francisco. Save my name, email, and website in this browser for the next time I comment. Proofpoint, Go to company page . Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. Find the information you're looking for in our library of videos, data sheets, white papers and more. However, Thoma Bravo is unique due to its intense focus on the software space (and, more specifically, cybersecurity). 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. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. Thoma Bravo , a private equity firm which took Proofpoint private in a $12.3 for approximately $12.3 billion in cash. However, our CEO will be leaving in April 2022 on his own, which is bad for us. Chicago-based private equity firm Thoma Bravo makes a business out of buying companies but what does it mean for acquired brands after the deal gets finalized? This is especially true if the buyout occurs in light of poor stock or company performance. 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. He researches and reports on 2,615 IT security vendors. 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. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. 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. In 2019, Bravo became the first billionaire born in Puerto Rico. We are under hiring pause till end of q1 23. They just laid off hundreds of people 30 days before the fist big vest. 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. All Rights Reserved. 7 day notice, two week severance, no accelerated vesting so we miss the vest by 30 days. 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. 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! 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. We caught up with him ahead of the Channel Partners Conference & Expo and co-located MSP Summit, Nov. 1-4. 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. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. post regarding Riverbed . Proofpoint after Thoma Bravo acquisition - Blind 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 Main menu Contents Want to see the real deal? 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. The firm has offices in Chicago, Miami and San Francisco. All other trademarks contained herein are the property of their respective owners. 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. The announcement comes four days after Thoma Bravo closed its prior top cloud. UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. It went public in 2000. Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. Any layoffs happened ? 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. 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. 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. 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. Fitch has also assigned a 'BB-'/'RR2' to Proofpoint's $250 million secured revolving credit facility (RCF) and $2.6 billion first-lien secured term loan. 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. Were there stocks given?#ellieMae #sophos #medallia #apptus #dynatrace #sirius #venafi, Go to company page 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. 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. 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? It just passed the billion-dollar revenue mark in 2020. 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. 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. Shargo: Not completely random, but reasonable behind the decided price for the equity isnt perfect. You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. I have a job offer at proofpoint and They are saying there wont be layoffs. 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. Get free research and resources to help you protect against threats, build a security culture, and stop ransomware in its tracks. How did they handle unvested stock at acquisition? This model was successful enough for the company to go public in 2013. 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. Learn about the human side of cybersecurity. There were even cuts at the C suite, so I dont think any role is safe post acquisition. However, our CEO will be leaving in April 2022 on his own, which is bad for us. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. The Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. 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. Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . The only path forward I can see is for Thoma Bravo to clean up a few things and repackage Proofpoint for a sale to Microsoft. 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. You have time but change will come within 1-2 years. The US buyout. nekx83aaxs Thanks for this . Proofpoint also disclosed Q1 2021 financial results today. Its recent $12.3 billion purchase of Proofpoint, . How was the transition, where there a lot of layoffs?How did they compensate the employees? 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. 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. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. 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" 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 compliance company, today announced the completion of Thoma Bravo's acquisition of Proofpoint for approximately $12.3 billion in cash. 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. About Proofpoint, Inc.Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. 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 Secure access to corporate resources and ensure business continuity for your remote workers. At Anaplan, weve been told our invested RSUs for the fiscal year will be accelerated and paid out at close. 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. 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. Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. 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. The firm, known for its investments in. 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. As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. They will do all they can to not pay. Browse our webinar library to learn about the latest threats, trends and issues in cybersecurity. Anaplan, Go to company page +1 to the person above who said they actively avoid companies owned by private equity firms. 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. Its business model seems to be to engage in lawsuits against other security technology companies, forcing them to pay licensing fees. Fortunately, no layoffs, no reduction in force as of now. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Everyone I knew was just recruiting all the time. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Customers end up with less support for the products they purchased. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. 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]. Keep up with the latest news and happenings in the everevolving cybersecurity landscape. Thoma Bravo has invested in multiple sectors such as Cybersecurity, Banking Tech, GRC Software and more. 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. Unvested stock turned to restricted cash vesting on the same schedule.