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Riverbed Technology, Go to company page Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. In this wide-ranging interview, he also tells editorial director Craig Galbraith about . RealPage It was great until Thoma Bravo Glassdoor, Dynatrace Employee Reviews about thoma bravo Glassdoor, My company has been acquired by Thoma Bravo. Any layoffs happened ? The firm has offices in Chicago, Miami and San Francisco. 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 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. That plan was never realistic and likely misstated by company management. Market Realist is a registered trademark. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. 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. Gary Steele, chairman and CEO of Proofpoint, said in a press release . The $800 million second-lien secured term loan is not rated. However , https://www.proofpoint.com/us/blog/insider-threat-management/great-resignation-increasing-risk-data-loss-what-you-can-do-stop-it, Jun 28, 2022 And even as employees in the tech sector are affected by recent layoffs , the implication is the same: employee turnover puts sensitive data , https://news.crunchbase.com/cybersecurity/cybersecurity-abnormal-unicorn-proofpoint-insight-partners/, May 10, 2022 Proofpoint was founded as an email security solution, and while it added additional capabilities through the years it was still closely , https://www.indeed.com/cmp/Proofpoint/reviews. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. 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 . The company is well-run, making wise strategic investments in new technologies to stay relevant and growing nicely year over year. 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. 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. In a time of rising layoffs and cooled jobs market outlooks, employees of recently acquired companies may be wondering whats next. All rights reserved. Layoffs are coming(senior leadership across the board is looking for the exit), etc. The acquisition of Proofpoint by private equity firm Thoma Bravo is reaping rewards for the security provider's partners. Learn about how we handle data and make commitments to privacy and other regulations. 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? Cautionary Note Regarding Forward-Looking Statements. We are hiring..no stopping that..lets see what TB says when mgmt meets with them later this week. Energized to find a new job after yours gets sent offshore is more accurate. The announcement comes four days after Thoma Bravo closed its prior top cloud. The deal, announced Feb. 6, 2020, was valued at $1.9 billion. The pair began to move Dynatrace from selling database. Oct 20, 2020 Got an email from our CEO confirming that Thoma Bravo will be acquiring a controlling interest in our firm. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. Did they affect (positively or negatively)your culture or day to day operations? 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. 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. post regarding Riverbed . Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. Thoma Bravo , a private equity firm which took Proofpoint private in a $12.3 for approximately $12.3 billion in cash. Founder and managing partner of Thoma Bravo, Orlando Bravo, launched the firm in 2008 amid the rising action of the Great Recession. 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. reported by Reutersmight be another proof point for a market downturn. In light of the announced transaction with Thoma Bravo, Proofpoint has cancelled its earnings conference call previously scheduled for April 29, 2021. 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. Its business model seems to be to engage in lawsuits against other security technology companies, forcing them to pay licensing fees. Andy Brimmer / Matthew Sherman / Jed Repko, 2023. Deliver Proofpoint solutions to your customers and grow your business. May 17, 2019, 5:22 p.m. EDT 1 Min Read. In April, the firm said it would buy Proofpoint Inc. in an all-cash transaction that values . WhiteSource, an o pen source security firm, has acquired Diffend, an innovative software supply chain security service. 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.. U.S. private equity giant Thoma Bravo is acquiring SailPoint in an all-cash deal worth about $6.9 billion, the cybersecurity company announced Monday. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. 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. More information is available at www.proofpoint.com. nekx83aaxs Thanks for this . However, our CEO will be leaving in April 2022 on his own, which is bad for us. Thoma Bravo's blank-check firm has reached an agreement to take app software company ironSource public through a merger that values the combined business at $11.1 billion. Insider. For more information, visit thomabravo.com. Thoma Bravo Completes Acquisition of Proofpoint, Calypso Technology and AxiomSL combine forces under new name: Adenza, PDFTron Acquires PDF-to-Office Innovator Solid Documents. All other trademarks contained herein are the property of their respective owners. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. Proofpoint, Go to company page Did TB disclose anything? It showed revenue growth of 15% in the first quarter of 2021; $288 million. 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. It will be almost a year the aquisition was declared last April of Proofpoint. Hello to people who were part of the companies that Thoma Bravo acquired. 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 . 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! 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. But attrition has been all time high, and then they put hiring freeze. Can I Be Laid Off While On Workers Compensation? Proofpoint was founded as an email security solution, , https://tusxv.com/7zup1o8/thoma-bravo-proofpoint-layoffs. Thoma Bravo always does a 15-20% RIF a few months after the deal closes. They just laid off hundreds of people 30 days before the fist big vest. Mimecast Email Security Business Background, Challenges 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. 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. Proofpoint How was the transition, where there a lot of layoffs?How did they compensate the employees? US DoD Server Had no Password 3TB of Sensitive Data Leaked, Cowbell Adds Free Cybersecurity Services for Insurance Policy Holders, Microsoft FAIL: BlackLotus Bootkit Breaks Secure Boot, Organizations Struggle WithCCPA, CPRA, GDPR Compliance, Add your blog to Security Bloggers Network. 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. Episodes feature insights from experts and executives. . 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. It will be almost a year the aquisition was declared last April of Proofpoint. 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. 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. 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. Save my name, email, and website in this browser for the next time I comment. It had 281 employees at the time, and was down 50 by the close of 2020. Thoma Bravo's transactions nonetheless embody layoffs (usually 10% or extra of employees) and outsourcing, shifting operations to international locations Thoma Bravo Completes Acquisition of Proofpoint https://www.thomabravo.com/press-releases/thoma-bravo-completes-acquisition-of-proofpoint Copyright 2023 Market Realist. 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. The firm has offices in Chicago, Miami and San Francisco. Websense was one of the first content URL filtering products. 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. Todays cyber attacks target people. Proofpoint's board has unanimously approved . The long-term problem for Proofpoint and now, Thoma Bravo is that its biggest competitor is a little company in Redmond called Microsoft. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Trustwave was, in turn, acquired by Singtel in 2015. 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 Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? 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. I think you have got the answer in your other post. Other times, its layoffs. 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. 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.