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.
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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
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