Security News > 2021 > April > Thoma Bravo to acquire Proofpoint in a $12.3B transaction

Proofpoint announced that it has entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction that values Proofpoint at approximately $12.3 billion.

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, the last full trading day prior to the transaction announcement, and a premium of approximately 36 percent over Proofpoint's three-month volume-weighted average closing share price through April 23, 2021.

Proofpoint will benefit from the operating capabilities, capital support and deep sector expertise of Thoma Bravo - one of the most experienced and successful software investors in the world.

"Proofpoint has established itself as a true powerhouse in the cybersecurity sector due to its innovative suite of market-leading products and impressive customer base of leading companies around the world," said Chip Virnig, a Partner at Thoma Bravo.

"We look forward to partnering with the talented Proofpoint team and leveraging Thoma Bravo's significant security and operational expertise to help accelerate the Company's growth."

Proofpoint's Board of Directors has unanimously approved the agreement with Thoma Bravo and recommends that Proofpoint shareholders vote in favor of the transaction at the Special Meeting of Shareholders to be called in connection with the transaction.

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