Thoma Bravo to acquire cybersecurity firm Proofpoint


(Reuters) - Private equity firm Thoma Bravo announced Monday that it would buy cybersecurity firm Proofpoint Inc. for about $ 10.1 billion at a time when remote work is in demand for network security due to the pandemic soared.

Interest in cybersecurity companies has increased as more and more companies turn to the cloud to run their business, and it does so in the face of frequent cyber attacks. Cybersecurity funding hit an all-time high last year at $ 11.4 billion, up nearly 50% over 2018, according to CB Insights.

The transaction, which is expected to close in the third quarter, will gross Proofpoint shareholders $ 176 per share held, a premium of roughly 34% over the last close of the stock. The company's shares rose 32% in pre-market trading.

Proofpoint values ​​the offer at around $ 12.3 billion.

Thoma Bravo, which mainly focuses on software and technology, has doubled its investments in this sector. In March, the company acquired online trading services provider Calypso Technology and data solutions company Talend.

Proofpoint, based in Sunnyvale, California, also reported earnings for the first quarter on Monday, beating Wall Street's estimates of sales and earnings per share.

However, the company canceled its April 29 call for profits due to the deal.


read more

https://businessservicesnews.ca/2021/04/26/thoma-bravo-to-acquire-cybersecurity-firm-proofpoint/

Comments

Post a Comment

Popular posts from this blog

Open call: ACC Residency 2023 - Announcements

Asia Culture Center (ACC) is seeking participants for ACC Residency 2023. ACC has been organizing international residency programs not just as a form of artistic support policy, but a superlative creation/production program to produce novel and diverse content with creative talents from all over the world. As a forum for experimentation and exchange it envisions alternative futures based on a spirit of artistic engagement with reality. This year, the residency will be held in collaboration with ACC Sound Art Lab under the theme “Futures of Listening” which is also a long-term project led by ACC Sound Art Lab. As part of the collaboration, the two programs will be jointly organizing creative support programs for participants including talks and workshops by four world-renowned soundscape experts. Based on these, residency participants are to develop and present concepts for individual projects exploring the theme. This will be followed by the actual production and realization of t...
Read more

Radian's Pyramid Platform automates every step of the real estate process

Image
As the real estate industry prepares for the end of the forbearance moratoria, real estate experts anticipate an increase in foreclosures and REO activity. In preparation for this influx, asset managers, servicers and investors need to make sure they have the tools and technology to successfully navigate this unpredictable time. Pyramid Platform, Radian's award-winning asset management technology, can help users quickly adapt to fluctuations in the REO environment. Pyramid Platform automates and organizes every step of the REO asset management process through a secure web-based portal. Pyramid Platform users can customize their REO administration workflow to trigger tasks based on their individual needs. This helps users implement and manage investment strategies, from listing to liquidation. In addition, the Pyramid Platform offers users a variety of other workflows, including replacement deeds, short sales, acquisitions, rental management, and more. "After an un...
Read more

2021 Tradovate Review • Pros, Cons + More • Benzinga

Image
With such a wide range of options available, choosing a futures trading platform can be tricky. Tradovate is an innovative futures broker offering proprietary desktop and mobile trading platforms. Our Tradovate review will help you learn more about the pros and cons of opening an account. Tradovate is a specialized broker that provides users with access to the futures trading market. Unlike some brokers who require traders to fund the purchase of their own trading platform, Tradovate offers its own proprietary platform - and it's surprisingly comprehensive and powerful. Some of our favorite features on the Tradovate platform are the following: Depth of Market (DOM): If you have a trading strategy that relies on quickly executed, frequent trades, you will appreciate Tradovate's DOM feature, which allows you to quickly analyze price information, manage your positions and place orders at increased speed. Cross-platform charting: Not only can you use the Tradovate ...
Read more