Security News > 2021 > April > Thoma Bravo Buys Proofpoint in $12.3 Billion All-Cash Deal
Enterprise security vendor Proofpoint has agreed to be acquired by private equity firm Thoma Bravo in an all-cash transaction that values Proofpoint at approximately $12.3 billion.
As part of the deal, Proofpoint will exit the public markets and become a private company within Thoma Bravo's growing stable of enterprise cybersecurity companies.
Under the terms of the agreement, Proofpoint shareholders will receive $176.00 per share in cash, representing a premium of approximately 34 percent over Proofpoint's closing share price on April 23, 2021.
Proofpoint, an entrenched security vendor known for its enterprise email security products, generates about $1 billion in revenue annually.
Proofpoint is facing intense competition from a wave of well-funded startups looking to eat away at its customer base.
Proofpoint itself has been aggressive on the acquisition front, snapping up companies like Meta Networks, ObserveIT, Wombat and Cloudmark to expand beyond e-mail security offerings.