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. Learn about the technology and alliance partners in our Social Media Protection Partner program. 4 days ago Equity is a TechCrunch podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Any layoffs happened ? He had to wait to quit so he gets that payout, Check out this post! 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. Thanks. Proofpoint and medallia employees what has been your experience post the Thoma Bravo acquisition? 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. post regarding Riverbed . In this wide-ranging interview, he also tells editorial director Craig Galbraith about . Everyone I knew was just recruiting all the time. Learn about this growing threat and stop attacks by securing todays top ransomware vector: email. Verkada, Go to company page 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. We hit a 150+% bonus payout last year which was pretty nice. Richard Stiennon is the author of Security Yearbook 2021: A History and Directory of the IT Security Industry. Anaplan, Go to company page 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. 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. Proofpoint is well positioned to benefit from Thoma Bravos significant experience investing in software companies and overall approach to value creation. FEBRUARY 8, 2023 PDFTron Rebrands as Apryse, Reflecting Expanded Product Offerings and Commitment to Innovation. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. They cut across the org - DevOps got sent offshore first, followed by a lot of SWE. Can I Be Laid Off While On Workers Compensation? 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. 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]. 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? The deal, announced Feb. 6, 2020, was valued at $1.9 billion. . Should I trust the word or simply not accept the offer? 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. About Thoma Bravo. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in 100 full-time employees losing their jobs. However, one thing is clear: Changes are yet to come. Proofpoint, Go to company page 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. This model was successful enough for the company to go public in 2013. 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. Access the full range of Proofpoint support services. I have a job offer at proofpoint and They are saying there wont be layoffs. https://www.teamblind.com/post/Expecting-Layoffs-rqM1rqaD. They will do all they can to not pay. 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. More information is available at www.proofpoint.com. Sitemap, Thoma Bravo Completes Acquisition of Proofpoint. It's a bad time. Learn about our relationships with industry-leading firms to help protect your people, data and brand. The Home of the Security Bloggers Network, Home Security Boulevard (Original) Thoma Bravo Lacks Options with 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. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Proofpoints financial condition, results of operations, or liquidity. Get the latest cybersecurity insights in your hands featuring valuable knowledge from our own industry experts. 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. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? 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. Gary Steele, Chairman and CEO of Proofpoint, said, We are excited about this next chapter in our companys journey. All rights reserved. But attrition has been all time high, and then they put hiring freeze. . "We are excited . Unvested stock turned to restricted cash vesting on the same schedule. Proofpoint appears to be different from the typical PE deal. Thoma. That number dropped to 1,007 by the end of the year. Only sales will continue to hire. UserTesting Inc. to lay off 63 as result of $1.3B acquisition, merger. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. Last week, Instructure, home of Canvas LMS, went through a restructuring process which resulted in, Does Thoma Bravo Lay Off People? Andy Brimmer / Matthew Sherman / Jed Repko, 2023. Thoma Bravo is a private equity firm with a focus on investing in software and technology companies. Riverbed Technology, Go to company page It will be almost a year the aquisition was declared last April of Proofpoint . The company has spent over $ 97.92B for the acquisitions. 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! In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. Proofpoint, Go to company page 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. If youre at a company that is being acquired, start dusting off your resume and leave. We are under hiring pause till end of q1 23. Andy MacMillan, CEO, UserTesting, poses for a portrait at the UserTesting headquarters in San Francisco, California on . Marketing is drastically . Learn about the latest security threats and how to protect your people, data, and brand. The all-cash deal will take Proofpoint off the stock market and make it a . How was the transition, where there a lot of layoffs?How did they compensate the employees? 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? 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 . Raytheon purchased Vista Equitys remaining Forcepoint stake in January 2020 for $588 million, and then announced in October 2020 that it was selling the whole company to another private equity firm, Francisco Partners. SUNNYVALE, Calif. Proofpoint, Inc., a leading cybersecurity and compliance company, today announced that Rmi Thomas has been appointed as chief financial officer, effective immediately. Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%. Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Can I Be Laid Off While On Workers Compensation? Thoma Bravo's deal to take the company. Often, the company is saddled with debt to finance the deal. Thoma Bravo, the software-focused buyout firm, agreed to acquire cybersecurity and compliance firm Proofpoint Inc. in a deal it said values the business at about $12.3 billion. Proofpoint. Learn about the human side of cybersecurity. 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 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. February . Get deeper insight with on-call, personalized assistance from our expert team. He researches and reports on 2,615 IT security vendors. The announcement of the deal on Monday came four days after Thoma Bravo closed its previous top cloud acquisition the $10.2 billion purchase of RealPage, which serves the real estate industry. Learn about how we handle data and make commitments to privacy and other regulations. 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. Eng, Compensation has been poor, attrition is sky high, wlb is non existent. Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. I was also worried after reading about Thoma Bravo history with what they did with some of the companies they bought. Cost cutting, layoffs remain leading startup themes. San Francisco, CA 94105 +1 (415) 263-3660. 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. RealPage It was great until Thoma Bravo Glassdoor, Dynatrace Employee Reviews about thoma bravo Glassdoor, My company has been acquired by Thoma Bravo. +1 to the person above who said they actively avoid companies owned by private equity firms. 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. 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 is buying out Ping at a value of $28.50 per share, a 63-percent premium from the stocks price prior to the announcement. This is followed by high rates of attrition by disrespecting the talented staff that stay and moving any new engineering jobs to offshore vendors. How did you guys do in terms of sale. It showed revenue growth of 15% in the first quarter of 2021; $288 million. There were even cuts at the C suite, so I dont think any role is safe post acquisition. Cautionary Note Regarding Forward-Looking Statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Proofpoints financial condition, results of operations, or liquidity. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. You have time but change will come within 1-2 years. Employees are faced with layoffs, years of stalled product innovation and the imposition of cost-saving measures. 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. Customers end up with less support for the products they purchased. Market Realist is a registered trademark. 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. Vista Equity Partners then acquired Websense in 2013 for $906 million. Looking for answers as we are about to go through a similar boat now. This list of organizations invested in by Thoma Bravo provides data on their funding history, investment activities, and acquisition trends. 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 recently acquired proofpoint. Secure access to corporate resources and ensure business continuity for your remote workers. Connect with us at events to learn how to protect your people and data from everevolving threats. 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. It will be almost a year the aquisition was declared last April of Proofpoint. 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.As a rule, I am not a fan of financial shenanigans. 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.. reported by Reutersmight be another proof point for a market downturn. Former Profit 21 (now Epicor) CEO Chuck Boyle said about the firm after his own acquisition, Orlando would help not only at the highest level with strategy but also when we got grunt work done. Boyle is no longer the CEO. PING stock, which went public in September 2019, had lost 11.19 percent of its total value by the end of July. SUNNYVALE & SAN FRANCISCO, Calif., April 26, 2021 -- Proofpoint, Inc. (NASDAQ: PFPT) (the "Company"), a leading cybersecurity and compliance company, today announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services Thoma Bravo is n van de grootste software-investeerders ter wereld, met meer dan $120 miljard aan beheerd vermogen (per 30 september 2022). How many people were fired after Thoma Bravo acquired you? Im extremely grateful to our team members whose dedication and hard work have contributed to Proofpoints success and made this possible and, together, I know well deliver even more innovative solutions for our customers., We are thrilled to officially embark on our partnership with Proofpoint and begin supporting Proofpoints ongoing mission of protecting organizations from the ever-increasing threat of cyberattacks, said Seth Boro, a Managing Partner at Thoma Bravo. Over the past 20 years, the firm has acquired more than 325 companies representing over $100 billion in enterprise value. Can I Be Laid Off While On Workers Compensation? Thoma Bravo post acquisition experiences? Deliver Proofpoint solutions to your customers and grow your business. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange. 3D asset visualization and management platform startup Hexa raises $20.5M - SiliconANGLE,3D asset visualization and management platform startup Hexa today announced it has raised $20.5 million in new funding to support further expansion.Based in Israel, Hexa, incorporated as Fitix Vi - Blind Hello to people who were part of the companies that Thoma Bravo acquired. Proofpoint Announces CFO Transition. It will be almost a year the aquisition was declared last April of Proofpoint. Is the Market for Hardware Security Appliances Doomed? Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq stock exchange.