Private equity firm Thoma Bravo completed its $12.3bn acquisition of Proofpoint more than one month after the cybersecurity company’s shareholders approved the all-cash transaction.
Proofpoint said Tuesday the deal completion signaled its transition from a publicly traded company to a private ownership structure.
Gary Steele, Chairman and CEO of Proofpoint, cited Thoma Bravo’s experience investing in software companies. “We look forward to building on our offerings to continue preventing, defending and responding to both today’s and tomorrow’s cybersecurity threats,” he added.
Free Webinar: Private Investments in Space: Is Now the Right Time?
- How can PE get involved with the space economy that is estimated to hit $1 trillion by 2040?
- What is the risk profile with space investments?
- What did limited partners learn from the internet evolution that can be utilized when investing in space?
Commenting on the acquisition, Seth Boro, managing partner at Thoma Bravo, said the private equity firm will use its cybersecurity expertise to support Proofpoint’s continued offering of “people-centric security and compliance strategy” to safeguard client organizations from increasing cyber threats.
The transaction was first announced in late April followed by Proofpoint’s Special Meeting of Shareholders in July.
Source: GovConWire
Can’t stop reading? Read more
Bluegem taps Campari owner Lagfin to back next chapter of European consumer strategy
Bluegem taps Campari owner Lagfin to back next chapter of European consumer strategy Bluegem...
Apollo commits £4.5bn to back UK’s Hinkley Point nuclear project in landmark private credit deal
Apollo commits £4.5bn to back UK’s Hinkley Point nuclear project in landmark private credit deal...
Investindustrial partners with Saudi fund in strategic push to scale industrial investments under Vision 2030
Investindustrial partners with Saudi fund in strategic push to scale industrial investments under...