Thoma Bravo To Buy Proofpoint For $12.3B

Proofpoint  agreed to a takeover deal with private equity group Thoma Bravo Monday that will value the cybersecurity group at more than $12 billion.

Proofpoint shareholders will receive $176 in cash for each outstanding share, a 33.55% premium to its Friday closing price, in a deal that will see it taken off the Nasdaq and mark the second take-private deal from Thoma Bravo this year, following the $11.1 billion deal for app software group ironSource through Thoma Bravo Advantage, a special purpose acquisition company, or SPAC, that went public in January.

The Proofpoint deal, which values the group at $12.3 billion,  also includes a 45-day ‘Go Shop” period that will expire on June 9.

“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 Thomas Bravo partner Chip Virnig. “As the sophistication of cyberattacks continues to increase, Proofpoint is delivering the most effective solutions to help organizations protect their data and people across digital platforms.”