Thoma Bravo always does a 15-20% RIF a few months after the deal closes. As a rule, I am not a fan of financial shenanigans. 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. The firm is considered to be extremely hands-on, including Bravo himself. That number dropped to 1,007 by the end of the year. Overview of Thoma Bravo's Acquisitions All Acquisitions : 63 [View Details] Latest Acquisitions : Layoffs : Downsizing related discussion, postings, questions and answers. Youll be emailing , An inside view of ConnectWises reduction in force from msp, But they acquired SolarWinds in 2016 and their acquisition of ConnectWise wasnt until 2019. Help your employees identify, resist and report attacks before the damage is done. Thoma Bravo's deal to take the company. The private equity firm has more than $103 billion in assets , https://news.crunchbase.com/cybersecurity/cybersecurity-abnormal-unicorn-proofpoint-insight-partners/, May 10, 2022 equity giant Thoma Bravo bought publicly traded Proofpoint for $12.3 billion. Todays cyber attacks target people. Thoma Bravo is a leading private equity firm that focuses on software and technology. San Francisco, CA 94105 +1 (415) 263-3660. Aug 31, 2021 Software investment firm Thoma Bravo completed its acquisition of cybersecurity leader Proofpoint for approximately $12.3 billion in cash. 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. Riverbed Technology, Go to company page The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. We cant hire good talent in the states because compensation is anything but competitive. 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. Access the full range of Proofpoint support services. There will be a layoff but there will be opportunities if youre good and you stay. Source: been thru this with them before. Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). Get deeper insight with on-call, personalized assistance from our expert team. 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. Save my name, email, and website in this browser for the next time I comment. Meanwhile, the Permira-Mimecast deal is expected to close in the first half of 2022. 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 Bravos acquisition of Proofpoint for approximately $12.3 billion in cash. AI-powered protection against BEC, ransomware, phishing, supplier riskandmore with inline+API or MX-based deployment. But attrition has been all time high, and then they put hiring freeze. How Does a Data Breach Take Place in an Organization? Proofpoint and medallia employees what has been your experience post the Thoma Bravo acquisition? 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. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. AnswerThePublic listens into autocomplete data from search engines like Google then quickly cranks out every useful phrase and question people are asking around thoma bravo on 02 Feb. It's a goldmine of consumer insight you can use to create fresh, ultra-useful content, products and services. Disarm BEC, phishing, ransomware, supply chain threats and more. Jun 3, 2022 Elon Musk says Tesla will lay off 10% of its salaried employees. It also acquired SurfControl and Defensio. 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 agreed to spend around $12.3 billion on the acquisition. So says Jason Eberhardt, Proofpoint's global vice president, cloud and MSP. 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? Marketing is drastically , Thoma Bravo recently acquired Realpage and more than 10% was laid off during the 1st round, a 2nd round just laid off 600 more people. Any time a private equity firm purchases a company in full, changes may occur. The $800 million second-lien secured term loan is not rated. Sep 3, 2021 3 1. Publicly traded Finjan was acquired by an investment group in a deal valued at $43.9 million, announced in June 2020. More information is available at www.proofpoint.com. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. Then massive cost cutting, layoffs and likely a change in their executives. In 2019, when Bravo reached billionaire status, Forbes wrote, Bravo is eyeing $10 billion-plus deals and expects to begin buying entire divisions from todays technology giants. The latest couple of deals haven't exceeded the $10 billion mark, but theyre substantial nonetheless. 51 reviews from Proofpoint employees about Proofpoint culture, salaries, benefits, work-life balance, management, job security, and more. 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. Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. 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. Should I , RealPage It was great until Thoma Bravo Glassdoor, An inside view of ConnectWises reduction in force : r/msp, An inside view of ConnectWises reduction in force, Insights from Thoma Bravo and Frontline Education for , Proofpoint / Medallia outcome of Thoma bravo purchase Blind, Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Ellie Mae announces layoffs of 10% of its staff HousingWire, Buyout firm Thoma Bravo goes from niche to big league, Can You Be Laid Off While On Medical Leave, Can A Company Find Out If You Were Laid Off, Can You Say You Were Laid Off Instead Of Fired, Can You Go On Disability After Being Laid Off, Can You Be Laid Off While On Short-Term Disability. We hit a 150+% bonus payout last year which was pretty nice. His clients are vendors, investment firms, and CISOs at large enterprises. He has held leadership roles at PwC, Webroot Software, Fortinet, and Blancco Technology Group. He had to wait to quit so he gets that payout, Check out this post! 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 FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. Offers may be subject to change without notice. Medallia, Go to company page Looking back on the last two years, it is apparent that cybersecurity is viewed as hot by private equity firms. When private equity shows up to a deal, it usually spells disaster for everyone but the investors. Medallia, Go to company page 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. The firm has offices in Chicago, Miami and San Francisco. As of Dec. 31, 2018, Ellie Mae had about 1,570 employees . Citigroup Inc. is cutting hundreds of jobs across the company, with the Wall Street giant's investment banking division among those affected. #tech #acquisition #proofpoint #medallia #anaplan #thomabravo, Go to company page They recently started hiring in India, so cheaper labor is the focus which makes sense because PE firms only care for profit. 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. 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 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. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Proofpoint / Medallia outcome of Thoma bravo purchase Blind, The Great Resignation is Increasing the Risk of Data Loss, Email Cybersecurity Firm Abnormal Hits Unicorn Status After , Working at Proofpoint: 51 Reviews | Indeed.com, Cost cutting, layoffs remain leading startup themes TechCrunch, 10 Things To Know About The Thoma Bravo-Proofpoint Deal , Musks Super-Bad Feeling; an Amazon Exec Ships Out, Can You Be Laid Off While On Medical Leave, Can A Company Find Out If You Were Laid Off, Can You Say You Were Laid Off Instead Of Fired, Can You Go On Disability After Being Laid Off, Can You Be Laid Off While On Short-Term Disability. Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . You have time but change will come within 1-2 years. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Going private allowed deep investments in the right parts of the business while trimming the fat. - Blind Hello to people who were part of the companies that Thoma Bravo acquired. Can I Be Laid Off While On Workers Compensation? Learn about the benefits of becoming a Proofpoint Extraction Partner. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. SailPoint wasn't even their largest cybersecurity acquisition by a long shot. 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 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.. Meanwhile, Finjan Holdings maintained ownership of Finjans patent portfolio. 7 day notice, two week severance, no accelerated vesting so we miss the vest by 30 days. Revenue was $287.8 million, up 15 percent compared to Q1 of 2020. Trustwave was, in turn, acquired by Singtel in 2015. They cut across the org - DevOps got sent offshore first, followed by a lot of SWE. Bonuses will be paid af 100%, Did you guys meet sales target? Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? 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. The answer depends on the size of the company, how long the , https://www.glassdoor.com/Reviews/Employee-Review-RealPage-RVW47308194.htm, May 22, 2021 After the Thoma Bravo merger: the first wave of layoffs has already occurred and it looks like another wave is occurring. Email is still the primary vector for cyberattacks, and Proofpoint was the largest standalone email security company. 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. Cautionary Note Regarding Forward-Looking Statements. Thoma Bravo recently purchased SailPoint for a second time for $6.9 billion. Apr 26, 2021 Proofpoint Inc. Proofpoint 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 already acquired Proofpoint for $12.3 billion in April 2021. All other trademarks contained herein are the property of their respective owners. How did they handle unvested stock at acquisition? How did you guys do in terms of sale. Thoma Bravo Lacks Options with Proofpoint Security Boulevard, Does Thoma Bravo Lay Off People? 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. Its recent $12.3 billion purchase of Proofpoint, . post regarding Riverbed , 10 Things To Know About The Thoma Bravo-Proofpoint Deal , thoma bravo proofpoint layoffs Superprecast |, Email Cybersecurity Firm Abnormal Hits Unicorn Status After , thoma bravo proofpoint layoffs Revista TusXV.com, An inside view of ConnectWises reduction in force : r/msp, An inside view of ConnectWises reduction in force, Thoma Bravo purchase of Proofpoint marks top private equity , Buyout firm Thoma Bravo builds war chest for software , Thoma Bravo Completes Acquisition of Proofpoint, Can You Be Laid Off While On Medical Leave, Can A Company Find Out If You Were Laid Off, Can You Say You Were Laid Off Instead Of Fired, Can You Go On Disability After Being Laid Off, Can You Be Laid Off While On Short-Term Disability. nekx83aaxs Thanks for this . After the pandemic hit, Advent got cold feet and tried to back out of the deal. 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. Still other times, the firm who purchased the company may turn around and sell it again. 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. Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. Learn about the human side of cybersecurity. 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.