They just laid off hundreds of people 30 days before the fist big vest. 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 . Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. 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. It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. SUNNYVALE, Calif. Proofpoint, Inc., a leading cybersecurity and compliance company, today announced that Rmi Thomas has been appointed as chief financial officer, effective immediately. If youre at a company that is being acquired, start dusting off your resume and leave. 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. Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. 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. Learn about the benefits of becoming a Proofpoint Extraction Partner. Under the terms of the all-cash agreement, Proofpoint shareholders will receive $176 per share. 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. In the latest development, private equity giant Thoma Bravo is buying Proofpoint, the SaaS security vendor, for $12.3 billion in cash. . 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. Proofpoint, the Nasdaq-listed cybersecurity firm, is being acquired by private equity giant Thoma Bravo for $12.3bn. Sep 3, 2021 3 1. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. For more information, visit thomabravo.com. The proceeds along with sponsor equity from Thoma Bravo will be used for Thoma Bravo's acquisition of . . In early August, Thoma Bravo finalized a deal to buy enterprise identity management company Ping Identity for $2.8 billion. In light of the announced transaction with Thoma Bravo, Proofpoint has cancelled its earnings conference call previously scheduled for April 29, 2021. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Proofpoint Announces CFO Transition. Public company Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. 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. 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. 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.. 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 . 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. Sometimes, CEO and other executive replacements occur. 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. Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). 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. 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. Proofpoint, Go to company page Did TB make any promises to Proofpoint that they reneged on? How was the transition, where there a lot of layoffs?How did they compensate the employees? The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. As a rule, I am not a fan of financial shenanigans. It will be almost a year the aquisition was declared last April of Proofpoint. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. I recorded them in Security Yearbook 2021. They cut across the org - DevOps got sent offshore first, followed by a lot of SWE. The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. We caught up with him ahead of the Channel Partners Conference & Expo and co-located MSP Summit, Nov. 1-4. 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. Last year, it bought ProofPoint for $12.3 billion. 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. Anaplan, Go to company page Proofpoint announced that it has entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction that values Proofpoint at approximately $12.3 billion.. We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. More information is available at www.proofpoint.com. Cautionary Note Regarding Forward-Looking Statements. 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 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. The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. 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 will likely spend time directly helping to manage these companies and infiltrate themselves into the business to better understand what direction they want to take it. The all-cash deal will take Ping from public to private. . Medallia, Go to company page 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. 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. 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. He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. - Blind Hello to people who were part of the companies that Thoma Bravo acquired. 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. You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. Proofpoint 2023 State of the Phish-rapport . 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 Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. 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. Thoma Bravo is a leading private equity firm that focuses on software and technology. Skyview Capital announced the acquisition of Fidelis in January 2020. Disarm BEC, phishing, ransomware, supply chain threats and more. 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. It isn't clear yet what Thoma Bravo has planned for Ping Identity and SailPoint. 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. 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. Proofpoint will be privately held by private equity firm Thoma Bravo and will not have an independent board of directors. The company has spent over $ 97.92B for the acquisitions. Other times, its layoffs. It had 281 employees at the time, and was down 50 by the close of 2020. At the time, Forescout had 1,133 employees. As a rule, I am not a fan of financial shenanigans. It just passed the billion-dollar revenue mark in 2020. Prevent data loss via negligent, compromised and malicious insiders by correlating content, behavior and threats. Should I trust the word or simply not accept the offer? "We are excited . 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. Medallia, Go to company page Secure access to corporate resources and ensure business continuity for your remote workers. Publicly traded Finjan was acquired by an investment group in a deal valued at $43.9 million, announced in June 2020. 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 . 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. Bonuses will be paid af 100%, Did you guys meet sales target? Fortunately, no layoffs, no reduction in force as of now. Read the release on the PR Newswire website here. Any layoffs happened ? Can I Be Laid Off While On Workers Compensation? Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. The acquisition of Proofpoint by private equity firm Thoma Bravo is reaping rewards for the security provider's partners. The $800 million second-lien secured term loan is not rated. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. Learn about our relationships with industry-leading firms to help protect your people, data and brand. It dropped 100 people after the sale to Symphony; probably attributable to the BSAFE team staying with Dell. The Fidelis Elevate platform provides security analytics, and is being marketed as an XDR product. As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. Apr 26, 2021 Proofpoint Inc. At Anaplan, weve been told our invested RSUs for the fiscal year will be accelerated and paid out at close. Manage risk and data retention needs with a modern compliance and archiving solution. 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" 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). Get free research and resources to help you protect against threats, build a security culture, and stop ransomware in its tracks. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? For more information, visit thomabravo.com. 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. 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. Get deeper insight with on-call, personalized assistance from our expert team. Sophos, Go to company page Proofpoint appears to be different from the typical PE deal. 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. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. 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. Proofpoint's board has unanimously approved . He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. Thoma Bravo has been an active investor and buyer in the cybersecurity market. Proofpoint I left in a year of joining. Learn about our unique people-centric approach to protection. As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Lets see how many more , Yes, Thoma Bravo is Brutal. Thoma Bravo , a private equity firm which took Proofpoint private in a $12.3 for approximately $12.3 billion in cash. thoma bravo acquisitions layoffs . Based on prior public filings, the company eliminated approximately 160 positions. Vista Equity Partners then acquired Websense in 2013 for $906 million. Become a channel partner. We hit a 150+% bonus payout last year which was pretty nice. True to Insights past performance with Recorded Future, they have continued to invest and grow Armis, which had 372 employees at the end of 2020, a 41% growth rate. 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. 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. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. 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. However, Thoma Bravo is unique due to its intense focus on the software space (and, more specifically, cybersecurity). With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. About Proofpoint, Inc.Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. Learn about this growing threat and stop attacks by securing todays top ransomware vector: email. Its terrible. Everyone I knew was just recruiting all the time. 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 . 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. Market Realist is a registered trademark. 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. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. 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. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Thoma Bravo has had little trouble finding companies to buy, including ones that are publicly traded. There will be a layoff but there will be opportunities if youre good and you stay. That plan was never realistic and likely misstated by company management. 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]. Privacy Policy Thoma Bravo recently purchased SailPoint for a second time for $6.9 billion. Can I Be Laid Off While On Workers Compensation? Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. It's a bad time. 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. Thoma Bravo Completes Acquisition of Proofpoint, Calypso Technology and AxiomSL combine forces under new name: Adenza, PDFTron Acquires PDF-to-Office Innovator Solid Documents. 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 . Keep up with the latest news and happenings in the everevolving cybersecurity landscape. 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. His clients are vendors, investment firms, and CISOs at large enterprises. Implement the very best security and compliance solution for your Microsoft 365 collaboration suite. 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. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : 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 Bravo's acquisition of Proofpoint for approximately $12.3 billion in cash. 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. Should I not even entertain the idea of a job offer with them anymore?
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