Save my name, email, and website in this browser for the next time I comment. It was then called Raytheon|Websense. I have a job offer at proofpoint and They are saying there wont be layoffs. post regarding Riverbed . 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. Compare that to Crowdstrike, which is trading at 50x 2020 revenue, and Zscaler trading at 60x. Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. Todays cyber attacks target people. investor-relations@proofpoint.com (408) 585-4351. The private equity . Read the latest press releases, news stories and media highlights about Proofpoint. 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. 3D asset visualization and management platform startup Hexa raises $20 Any signing bonus is not worth the hassle of dealing with these spreadsheet jockeys. 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). Last year, it bought ProofPoint for $12.3 billion. CEO left because of frustrations with TB folks, talks of cost cuts, not laying off yet, but TB history got former CEO worried. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. RSA Security grew slightly during the first three quarters of 2020, from 3,161 to 3,172 employees. Proofpoint: Partners to Benefit from Thoma Bravo Acquisition So the problems youre seeing in SolarWinds is where Thoma Bravo , Insights from Thoma Bravo and Frontline Education for Instructures Possible Future, Dec 19, 2019 Even beyond Frontline Education, Thoma Bravo is well-known for having layoffs , as seen at Ellie Mae, Riverbed, Qlik, and Imperva. Thoma Bravo is paying $176 per share, for a 34% premium to the closing share price before the announcement. Thoma Bravo Acquisitions Layoffs - GoLayoffs (Tech Industry)". Proofpoint, Go to company page Forcepoint journey has taken a long and winding road. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. All Rights Reserved. Customers end up 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. We hit a 150+% bonus payout last year which was pretty nice. Thoma Bravo is a leading private equity firm with a 40-year history, including over $35 billion in investor commitments, and a focus on investing in software and technology companies. Learn about this growing threat and stop attacks by securing todays top ransomware vector: email. Small Business Solutions for channel partners and MSPs. This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. There will be a layoff but there will be opportunities if youre good and you stay. I think you have got the answer in your other post. 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 Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with Proofpoint. Get deeper insight with on-call, personalized assistance from our expert team. Proofpoint Announces Cancellation of its 2021 Annual Meeting of It will be almost a year the aquisition was declared last April of Proofpoint. Did TB make any promises to Proofpoint that they reneged on? Layoffs are coming(senior leadership across the board is looking for the exit), etc. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. However, our CEO will be leaving in April 2022 on his own, which is bad for us. 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. Thoma. Thoma Bravo, a private equity firm, has agreed to purchase Proofpoint for $12.3 billion in the biggest cybersecurity acquisition of all time. In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. Often, the company is saddled with debt to finance the deal. 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. Shargo: Not completely random, but reasonable behind the decided price for the equity isnt perfect. Some notable deals: Armis, one of the biggest IoT security vendors, had 263 employees when Insight Partners acquired them for a reported $1.1 billion valuation. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. This is especially true if the buyout occurs in light of poor stock or company performance. 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. He had to wait to quit so he gets that payout, Check out this post! Deliver Proofpoint solutions to your customers and grow your business. Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. 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. As a rule, I am not a fan of financial shenanigans. Learn about the technology and alliance partners in our Social Media Protection Partner program. Offers may be subject to change without notice. I feel bad for the people. nekx83aaxs Thanks for this . 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. Mimecast Email Security Business Background, Challenges Learn about the benefits of becoming a Proofpoint Extraction Partner. #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page There were even cuts at the C suite, so I dont think any role is safe post acquisition. Proofpoint will be privately held by private equity firm Thoma Bravo and will not have an independent board of directors. 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 . Thoma Bravo to Buy Proofpoint for $12.3B - CFO Acquisitions by Thoma Bravo | Tracxn Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. Thoma Bravo Completes Acquisition of Proofpoint You can see why Thoma Bravo thought Proofpoint was undervalued and worth paying a 60% premium to the market for its shares. At face value, fair enough. Under the . We are looking forward to working closely with Gary and the Proofpoint team to leverage Thoma Bravos deep cybersecurity expertise to help propel the companys continued innovation and growth. Thoma Bravo to Buy Cyber Firm Proofpoint for $12.3 Billion 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. Thanks. 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. 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. 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. 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. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. We look forward to building on our offerings to continue preventing, defending and responding to both todays and tomorrows cybersecurity threats. 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 also disclosed Q1 2021 financial results today. Save my name, email, and website in this browser for the next time I comment. Insider. 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. I recorded them in Security Yearbook 2021. Most of our engineering/devOps/implementation teams are already offshore, so lets see what happens. He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. Thoma Bravo has had little trouble finding companies to buy, including ones that are publicly traded. 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 Thoma Bravo post acquisition experiences? 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. SUNNYVALE, Calif. and SAN FRANCISCO Thoma Bravo, a leading software investment firm, and Proofpoint, Inc. ("Proofpoint), a leading cybersecurity and compliance company, today announced the completion of Thoma Bravo's acquisition of Proofpoint for approximately $12.3 billion in cash. 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. 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. Thoma Bravo Layoffs Cybersecurity firm Proofpoint to be acquired for $12.3bn - Silicon Republic 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. But attrition has been all time high, and then they put hiring freeze. 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. (I did hear someone who was an employee for 7 years got 7 weeks severance, still a joke), Have found TB acquisition really energizing. Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . It isn't clear yet what Thoma Bravo has planned for Ping Identity and SailPoint. UltimatePP you think proofpoint is doing good under Thoma Bravo? 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 . Thoma Bravo Completes Acquisition of Proofpoint Proofpoint Announces CFO Transition. Last year alone saw 72 acquisitions by private equity. Help your employees identify, resist and report attacks before the damage is done. 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. How was the transition, where there a lot of layoffs?How did they compensate the employees? How did you guys do in terms of sale. Thoma bravo acquires proofpoint - Blind 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. As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . Should I trust the word or simply not accept the offer? How did they handle unvested stock at acquisition? The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. Proofpoint was founded as an email security solution, , https://tusxv.com/7zup1o8/thoma-bravo-proofpoint-layoffs. post regarding Riverbed , Thoma Bravo is Brutal post regarding Qlik Technologies Inc , My company has been acquired by Thoma Bravo. Latest Company & Industry Overviews News and Updates. 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. 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. Thoma Bravo's deal to take the company. Keep your people and their cloud apps secure by eliminating threats, avoiding data loss and mitigating compliance risk. Cautionary Note Regarding Forward-Looking Statements. 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. More information is available at www.proofpoint.com. Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. More information is available at www.proofpoint.com. 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 51 reviews from Proofpoint employees about Proofpoint culture, salaries, benefits, work-life balance, management, job security, and more. Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. The US buyout. Keep up with the latest news and happenings in the everevolving cybersecurity landscape. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. The pair began to move Dynatrace from selling database. Gary Steele, chairman and CEO of Proofpoint, said in a press release . Hello to people who were part of the companies that Thoma Bravo acquired. Bonuses will be paid af 100%, Did you guys meet sales target? Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. Meet Wall Street's Best Dealmaker: New Billionaire Orlando Bravo - Forbes Sophos, Go to company page Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). Thoma Bravo has been an active investor and buyer in the cybersecurity market. Its recent $12.3 billion purchase of Proofpoint, . Private equity firm Thoma Bravo is acquiring cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal. 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. Despite the fact that private equity firms usually lay off lots of people, Thoma Bravo, the new expected owner, has promised that it won't reduce Instructure's staff on the new path to profitability. Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). 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. You have time but change will come within 1-2 years. 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]. Everyone I knew was just recruiting all the time. I know that my team has be reduced by 70% because everyone left. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. 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. Proofpoint Announces CFO Transition. View in Appclose The company's key investments include Barracuda Networks and Sophos, among many other firms. 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. Thoma Bravo achte Proofpoint dans le cadre d'un accord en espces de 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. Thoma Bravo is buying Proofpoint in a $12.3 billion all-cash deal He was a Research VP at Gartner. Energized to find a new job after yours gets sent offshore is more accurate. With a market capitalization of $7.5 billion, it was trading at a bit over 7x revenue. No layoffs except ~100 in commercial sales which isnt a priority for TB. Save my name, email, and website in this browser for the next time I comment. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. It showed revenue growth of 15% in the first quarter of 2021; $288 million. Moody's assigns B3 CFR to Proofpoint; outlook positive Thoma Bravo to acquire Proofpoint in a $12.3B transaction That number dropped to 1,007 by the end of the year. Trustwave was, in turn, acquired by Singtel in 2015. Implement the very best security and compliance solution for your Microsoft 365 collaboration suite. Did they affect (positively or negatively)your culture or day to day operations? - Blind Hello to people who were part of the companies that Thoma Bravo acquired. Proofpoint Layoffs - GoLayoffs Thoma Bravo Plots Next Fund in Red-Hot Market for Tech Deals Proofpoint, the Nasdaq-listed cybersecurity firm, is being acquired by private equity giant Thoma Bravo for $12.3bn. Marketing is drastically curtailed, with fewer appearances at trade shows and events in general. 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. 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.