{"id":116685,"date":"2021-04-27T07:26:54","date_gmt":"2021-04-27T11:26:54","guid":{"rendered":"https:\/\/rbach.net\/?p=116685"},"modified":"2022-02-08T12:57:40","modified_gmt":"2022-02-08T17:57:40","slug":"record-breaking-proofpoint-buyout","status":"publish","type":"post","link":"https:\/\/rbach.net\/index.php\/record-breaking-proofpoint-buyout\/","title":{"rendered":"Record Breaking Proofpoint Buyout"},"content":{"rendered":"\r\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-115271\" title=\"Record Breaking Proofpoint buyout\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/money-1-e1619464589190-150x147.jpg?resize=114%2C110&#038;ssl=1\" alt=\"Record Breaking Proofpoint buyout\" width=\"114\" height=\"110\" \/><strong><a href=\"https:\/\/www.thomabravo.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Thoma Bravo<\/a><\/strong> <a href=\"https:\/\/www.globenewswire.com\/news-release\/2021\/04\/26\/2216810\/0\/en\/Proofpoint-Enters-Definitive-Agreement-to-be-Acquired-by-Thoma-Bravo-in-12-3-Billion-Transaction.html\" target=\"_blank\" rel=\"nofollow noopener\">agreed<\/a> to a <strong>record breaking Proofpoint buyout<\/strong>. The Chicago-based private equity firm plans to buy out publicly traded cybersecurity company <a href=\"https:\/\/www.proofpoint.com\/us\" target=\"_blank\" rel=\"nofollow noopener\">Proofpoint<\/a> (<a href=\"https:\/\/wp.me\/p2wgaW-um1\" target=\"_blank\" rel=\"nofollow noopener\">PFPT<\/a>). The <strong>cash deal<\/strong> values Proofpoint at $12.3 billion. Thoma Bravo has agreed to acquire the company with a $176.00 per share price. That is a <strong>34% premium<\/strong> to its trading price starting 04\/23\/2021.<\/p>\r\n<h3>Proofpoint buyout<\/h3>\r\n<p>Proofpoint Chief Executive Gary Steele told <em><a href=\"https:\/\/www.marketwatch.com\/story\/proofpoint-stock-rockets-toward-record-territory-after-123-billion-buyout-deal-with-thoma-bravo-2021-04-26\" target=\"_blank\" rel=\"nofollow noopener\">MarketWatch<\/a><\/em>,\u00a0<\/p>\r\n<p style=\"padding-left: 40px; text-align: left;\"><em><a href=\"https:\/\/www.proofpoint.com\/us\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-116691\" title=\"Proofpoint logo\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/logo_proofpoint.jpg?resize=100%2C53&#038;ssl=1\" alt=\"Proofpoint logo\" width=\"100\" height=\"53\" \/><\/a>&#8230;in 2020 we generated more than $1 billion in annual revenue &#8211; making Proofpoint the first SaaS-based cybersecurity and compliance company to reach that milestone<\/em><\/p>\r\n<p>The board of directors of Proofpoint has approved the Proofpoint buyout agreement, including a deadline called the go shop, which expires on June 9th. This means that the company has 45 days to consider proposals from other parties.<\/p>\r\n<h3>About Proofpoint<\/h3>\r\n<p>Former Netscape CTO Eric Hahn, founded Proofpoint in June 2002. He helped launch the company in 2003 having raised $7m in a Series A funding round. Proofpoint was initially backed by venture capitalists Benchmark Capital and by Stanford University. In 2012, the company went public with an IPO which raised more than $80m.<\/p>\r\n<h3>About Thoma Bravo<\/h3>\r\n<p><a href=\"https:\/\/www.thomabravo.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-116692 size-medium\" title=\"Thoma Bravo logo\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/thomabravo_logo-1.jpg?resize=150%2C31&#038;ssl=1\" alt=\"Thoma Bravo logo\" width=\"150\" height=\"31\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/thomabravo_logo-1.jpg?resize=150%2C31&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/thomabravo_logo-1.jpg?resize=75%2C15&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/thomabravo_logo-1.jpg?w=200&amp;ssl=1 200w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a>Chicago\u2019s Thoma Bravo <a href=\"https:\/\/wp.me\/p2wgaW-n6Y\" target=\"_blank\" rel=\"noopener\">specializes in technology deals<\/a>. The PE firm has previously made investments in SolarWinds, a software company that is in the midst of a huge <a href=\"https:\/\/www.siliconrepublic.com\/enterprise\/malwarebytes-emails-solarwinds-attackers\" target=\"_blank\" rel=\"nofollow noopener\">cyberespionage<\/a> campaign. Thoma Bravo has also bought up controlling stakes in cybersecurity companies in the past, including:<\/p>\r\n<ul>\r\n<li><a href=\"https:\/\/wp.me\/p2wgaW-mrS\" target=\"_blank\" rel=\"noopener\">Barracuda<\/a> in a 2017 deal worth $1.6 billion;<\/li>\r\n<li>Imperva for $2.1 billion in October 2018;\u00a0<\/li>\r\n<li><a href=\"https:\/\/www.sophos.com\">Sophos<\/a> in 2020 for $3.9 billion.<\/li>\r\n<\/ul>\r\n<p><em><strong>rb-<\/strong><\/em><\/p>\r\n<p><em>This is a big deal. The $12.3 billion price tag makes it the biggest cybersecurity acquisition of all time. More than the <a href=\"https:\/\/venturebeat.com\/2010\/08\/19\/intel-buys-security-software-firm-mcafee-for-7-68b\/\" target=\"_blank\" rel=\"nofollow noopener\">$7.68 billion Intel shelled out for McAfee<\/a> 11 years ago. And <a href=\"https:\/\/venturebeat.com\/2021\/04\/26\/network-security-company-proofpoint-goes-private-in-12-3b-deal\/\" target=\"_blank\" rel=\"nofollow noopener\">VentureBeat<\/a> estimates that the Proofpoint acquisition represents one of the biggest overall technology acquisitions ever, putting it in the top 20, alongside megadeals that include <a href=\"https:\/\/venturebeat.com\/2015\/10\/12\/dell-just-bought-data-storage-company-emc-for-67m\/\" target=\"_blank\" rel=\"nofollow noopener\">Dell\u2019s $67 billion EMC purchase<\/a>, IBM\u2019s\u00a0<a href=\"https:\/\/venturebeat.com\/2018\/10\/28\/ibm-acquires-red-hat-for-34-billion\/\" target=\"_blank\" rel=\"nofollow noopener\">$34 billion Red Hat deal<\/a>, and Salesforce\u2019s pending <a href=\"https:\/\/venturebeat.com\/2020\/12\/01\/salesforce-acquires-slack\/\" target=\"_blank\" rel=\"nofollow noopener\">$27.7 billion Slack acquisition<\/a>.<\/em><\/p>\r\n<p style=\"text-align: center;\"><em><strong><a href=\"https:\/\/covid.cdc.gov\/covid-data-tracker\/?utm_source=morning_brew#cases_casesper100klast7days\" target=\"_blank\" rel=\"noopener noreferrer\">Stay safe out there !<\/a><\/strong><\/em><\/p>\r\n<p><strong>Related article<\/strong><\/p>\r\n<ul>\r\n<li><a title=\"US Senator seeks to ban Big Tech mergers and acquisitions\" href=\"https:\/\/appleinsider.com\/articles\/21\/04\/12\/us-senator-seeks-to-ban-big-tech-mergers-and-acquisitions\" target=\"_blank\" rel=\"nofollow noopener\">US Senator seeks to ban Big Tech mergers and acquisitions<\/a>\u00a0(<a title=\"Apple Insider\" href=\"https:\/\/appleinsider.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Apple Insider<\/a>)<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p><em><a title=\"Ralph Bach\" href=\"https:\/\/rbach.net\/index.php\/new-resume\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ralph Bach<\/a>\u00a0has been in IT long enough to know better and has blogged from his\u00a0<a title=\"Bach Seat\" href=\"https:\/\/rbach.net\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bach Seat<\/a>\u00a0about IT, careers and anything else that catches his attention since 2005. You can follow him at\u00a0<a class=\"broken_link\" href=\"http:\/\/www.linkedin.com\/in\/rb48334\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">LinkedIn<\/a>,\u00a0<a href=\"https:\/\/www.facebook.com\/ralph.bach.14\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/rbach48334\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>. Email the Bach Seat\u00a0<a href=\"mailto:\/\/bach.seat@gmail.com\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>The $12.3B Proofpoint buyout by Thomas Bravo is one of the biggest overall technology acquisitions ever raking with megadeals like Dell\u2019s $67 billion EMC purchase, IBM\u2019s\u00a0$34 billion Red Hat deal, and Salesforce\u2019s impending\u00a0$27.7 billion Slack acquisition<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[3558,32,1185,3259,3206,2657,1031,3029],"class_list":["post-116685","post","type-post","status-publish","format-standard","hentry","category-business","tag-3558","tag-business","tag-cybersecurity","tag-mergers-and-acquisition","tag-private-equity","tag-proofpoint","tag-saas","tag-thoma-bravo"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/116685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/comments?post=116685"}],"version-history":[{"count":17,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/116685\/revisions"}],"predecessor-version":[{"id":126669,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/116685\/revisions\/126669"}],"wp:attachment":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/media?parent=116685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/categories?post=116685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/tags?post=116685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}