The pair began to move Dynatrace from selling database. Proofpoint, Inc. is a leading cybersecurity and compliance company that protects organizations greatest assets and biggest risks: their people. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Any time a private equity firm purchases a company in full, changes may occur. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. I know that my team has be reduced by 70% because everyone left. Can I Be Laid Off While On Workers Compensation? How were *unvested* RSUs handled? Most of our engineering/devOps/implementation teams are already offshore, so lets see what happens. This is followed by high rates of attrition by disrespecting the talented staff that stay and moving any new engineering jobs to offshore vendors. Protect your people from email and cloud threats with an intelligent and holistic approach. Thoma. Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. UltimatePP you think proofpoint is doing good under Thoma Bravo? Private equity firm Thoma Bravo on Monday announced it had signed a definitive agreement to acquire the cybersecurity and compliance firm Proofpoint in a $12.3 billion all-cash deal. 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. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. Learn about the technology and alliance partners in our Social Media Protection Partner program. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Copyright 2023 Market Realist. Cautionary Note Regarding Forward-Looking Statements. Connect with us at events to learn how to protect your people and data from everevolving threats. Learn about the latest security threats and how to protect your people, data, and brand. +1 to the person above who said they actively avoid companies owned by private equity firms. How did they handle unvested stock at acquisition? Proofpoint, Go to company page It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. 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. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Proofpoint's board has unanimously approved . Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? More information is available at www.proofpoint.com. Vista Equity Partners then acquired Websense in 2013 for $906 million. Thoma Bravo is a leading private equity firm that focuses on software and technology. Salespeople have to explain why the new ownership is better all around, while they contend with territories being rejiggered and adjust to new sales leadership. Stand out and make a difference at one of the world's leading cybersecurity companies. As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. 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" Thoma Bravo has been an active investor and buyer in the cybersecurity market. The firm has offices in Chicago, Miami and San Francisco. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. 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. Get deeper insight with on-call, personalized assistance from our expert team. 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 one of the largest private equity firms in the world, with more than $78 billion in assets under management as of March 31, 2021. Looking for answers as we are about to go through a similar boat now. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. 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. The acquisition of Proofpoint by private equity firm Thoma Bravo is reaping rewards for the security provider's partners. You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. Its recent $12.3 billion purchase of Proofpoint, . 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. Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. Todays cyber attacks target people. Any signing bonus is not worth the hassle of dealing with these spreadsheet jockeys. Energized to find a new job after yours gets sent offshore is more accurate. 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. 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. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. 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. Lets see how many more , Yes, Thoma Bravo is Brutal. February . In April, the firm said it would buy Proofpoint Inc. in an all-cash transaction that values . 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 . FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. Save my name, email, and website in this browser for the next time I comment. The company said this. I left in a year of joining. Privacy Policy Proofpoint also disclosed Q1 2021 financial results today. He was a Research VP at Gartner. But attrition has been all time high, and then they put hiring freeze. Thoma Bravo's deal to take the company. After the pandemic hit, Advent got cold feet and tried to back out of the deal. Sophos, Go to company page For more information, visit thomabravo.com. This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. 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. Thoma Bravo has invested in multiple sectors such as Cybersecurity, Banking Tech, GRC Software and more. Can I Be Laid Off While On Workers Compensation? 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. 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. 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. Trustwave was, in turn, acquired by Singtel in 2015. 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. 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? The Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. "Just got laid off after takeoverWhat should I do now? 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 Finjan has a storied past. 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. The firm has offices in Chicago, Miami and San Francisco. The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. Keep up with the latest news and happenings in the everevolving cybersecurity landscape. 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. investor-relations@proofpoint.com (408) 585-4351. 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 . Can I Be Laid Off While On Workers Compensation? The company's key investments include Barracuda Networks and Sophos, among many other firms. Should I not even entertain the idea of a job offer with them anymore? 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. However, our CEO will be leaving in April 2022 on his own, which is bad for us. The all-cash deal will take Proofpoint off the stock market and make it a . It will be almost a year the aquisition was declared last April of Proofpoint. Heres what happens when Thoma Bravo buys your company including what could potentially be planned for recent acquisition Ping Identity. The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. A group of private equity firms acquired McAfee's consumer business for $14 billion. San Francisco, CA 94105 +1 (415) 263-3660. 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. Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. 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. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. 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. Proofpoint. 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 people-centric principles and how we implement them to positively impact our global community. Layoffs are coming(senior leadership across the board is looking for the exit), etc. Thoma Bravo already acquired Proofpoint for $12.3 billion in April 2021. Fortunately, no layoffs, no reduction in force as of now. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. Riverbed Technology, Go to company page The Rating Outlook is Stable. In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. 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. 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. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. The $800 million second-lien secured term loan is not rated. Read the latest press releases, news stories and media highlights about Proofpoint. Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. 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 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. 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 and medallia employees what has been your experience post the Thoma Bravo acquisition? Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. Mimecast Email Security Business Background, Challenges 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. Market Realist is a registered trademark. Splunk, Go to company page 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]. Proofpoint will be privately held by private equity firm Thoma Bravo and will not have an independent board of directors. Thoma Bravo always does a 15-20% RIF a few months after the deal closes. 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.