Thoma Bravo buys cybersecurity firm - Proofpoint for $12.3 billion

Thoma Bravo, the private equity firm, has taken over cybersecurity and compliance startup Proofpoint in an all-cash $12.3 billion deal.

Gary Steele, Chairman and CEO of Proofpoint, said that the acquisition by Thoma Bravo “underscores our important role” in the prevention of online hacks and the response to threats when they happen.

“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,” Steele said. He added that this made Proofpoint the first cybersecurity and compliance company based on Software-as-a-Service to reach that milestone.

With the acquisition, Proofpoint becomes a private company. It will still have the flexibility and resources to bring cybersecurity and compliance solutions to companies and individuals worldwide.

Steele added that as a private company, Proofpoint can “be even more agile” and can stay ahead of new threats while cementing its leadership position in the cybersecurity industry.

As per Dana Evan, Lead Independent Director, board of directors, Proofpoint, the transaction will benefit the company and all its stakeholders, including shareholders, employees and customers.

“We determined this premium, all-cash offer and partnership would create immediate and certain value for shareholders and help us achieve our operational and market ambitions more quickly for the benefit of our customers,” Evan said.