Thoma Bravo Acquires Proofpoint themiddlemarket.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themiddlemarket.com Daily Mail and Mail on Sunday newspapers.
Proofpoint stock rockets toward record territory after $12.3 billion buyout deal with Thoma Bravo
Shares of Proofpoint Inc. rocketed 32.0% in premarket trading, putting them on track to open well above its record closing price, after the cybersecurity and compliance company announced an agreement to be acquired by private equity firm Thoma Bravo in a cash deal that values the company at $12.3 billion. Under terms of the deal, Proofpoint shareholders will receive $176.00 in cash for each Proofpoint shares they own, which is 33.6% above Friday’s closing price of $131.78. The deal, which includes a “go-shop” period that expires on June 9, is expected to close in the third quarter of 2021. “We have made tremendous strides in expanding the sophistication and scale of our offerings, and in 2020 we generated more than $1 billion in annual revenue – making Proofpoint the first SaaS-based cybersecurity and compliance company to reach that milestone,” said Proofpoint Chief Executi
Thoma Bravo taking cybersecurity business Proofpoint private in $12 3 billion deal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
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Publicly traded cybersecurity provider Proofpoint Inc. today announced that it has agreed to be acquired by Thoma Bravo, a prominent private equity firm, in a $12.3 billion all-cash transaction.
The deal is set to net a sizable return for Proofpoint’s shareholders. Thoma Bravo has offered to pay $176 per share of the company, about 34% higher than where its stock stood at market close Friday.
Proofpoint is one of the world’s largest providers of technology for blocking malicious emails. Its artificial intelligence-powered security software catches messages containing suspicious links, malicious attachments and phishing attempts. Built-in analytics features allow administrators to study the email-borne attacks targeting their organizations to find ways of enhancing their defenses.