The private equity . We caught up with him ahead of the Channel Partners Conference & Expo and co-located MSP Summit, Nov. 1-4. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. The Rating Outlook is Stable. 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. He had to wait to quit so he gets that payout, Check out this post! WhiteSource, an o pen source security firm, has acquired Diffend, an innovative software supply chain security service. Its business model seems to be to engage in lawsuits against other security technology companies, forcing them to pay licensing fees. The company's key investments include Barracuda Networks and Sophos, among many other firms. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. 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, a private equity firm, has agreed to purchase Proofpoint for $12.3 billion in the biggest cybersecurity acquisition of all time. 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 Shargo: Not completely random, but reasonable behind the decided price for the equity isnt perfect. PING stock, which went public in September 2019, had lost 11.19 percent of its total value by the end of July. 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. Deliver Proofpoint solutions to your customers and grow your business. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. 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? Proofpoint, Go to company page SUNNYVALE, Calif. Proofpoint, Inc., a leading cybersecurity and compliance company, today announced that Rmi Thomas has been appointed as chief financial officer, effective immediately. Save my name, email, and website in this browser for the next time I comment. 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. I feel bad for the people. Stand out and make a difference at one of the world's leading cybersecurity companies. At Anaplan, weve been told our invested RSUs for the fiscal year will be accelerated and paid out at close. Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. In January 2016, the entity was spun off from Raytheon and branded as Forcepoint. Unvested stock turned to restricted cash vesting on the same schedule. Did TB disclose anything? However, our CEO will be leaving in April 2022 on his own, which is bad for us. He succeeds Paul Auvil, who is stepping down as CFO of Proofpoint after having served in the role for the past 16 years. Medallia, Go to company page UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. 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. Source: been thru this with them before. 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. Any signing bonus is not worth the hassle of dealing with these spreadsheet jockeys. Its terrible. 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. As a rule, I am not a fan of financial shenanigans. Verkada, Go to company page Help your employees identify, resist and report attacks before the damage is done. . Thoma Bravo has agreed to spend around $12.3 billion on the acquisition. Learn about how we handle data and make commitments to privacy and other regulations. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : Defend your data from careless, compromised and malicious users. Cautionary Note Regarding Forward-Looking Statements. Thoma Bravo post acquisition experiences? Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). 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. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. Did they affect (positively or negatively)your culture or day to day operations? This is especially true if the buyout occurs in light of poor stock or company performance. February 22, 2023 Portfolio; PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. If youre at a company that is being acquired, start dusting off your resume and leave. How did they handle unvested stock at acquisition? 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" +1 to the person above who said they actively avoid companies owned by private equity firms. That plan was never realistic and likely misstated by company management. Thoma Bravo's investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. . 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. Only sales will continue to hire. Proofpoint is traded publicly on the Nasdaq exchange and as . A group of private equity firms acquired McAfee's consumer business for $14 billion. 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. I think you have got the answer in your other post. 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. 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). The US buyout. Todays cyber attacks target people. Any layoffs happened ? 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! 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. 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 . It just passed the billion-dollar revenue mark in 2020. That number dropped to 1,007 by the end of the year. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. 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 . See Also . Any time a private equity firm purchases a company in full, changes may occur. We cant hire good talent in the states because compensation is anything but competitive. But attrition has been all time high, and then they put hiring freeze. 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. So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. There will be a layoff but there will be opportunities if youre good and you stay. Read the latest press releases, news stories and media highlights about Proofpoint. 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. 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. RealPage It was great until Thoma Bravo Glassdoor, Dynatrace Employee Reviews about thoma bravo Glassdoor, My company has been acquired by Thoma Bravo. All Rights Reserved. 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. Thoma 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. 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].