PFPT - Proofpoint enters agreement to be acquired by Thoma Bravo in $12.3B deal

Proofpoint (PFPT) has entered into a definitive agreement to be acquired by tech-focused PE firm Thoma Bravo for $176 per share in cash, a 34% premium to Friday's closing price.The transaction values Proofpoint at approximately $12.3B.After the deal closes, Proofpoint will become a privately-held company. The deal has a 45-day go-shop period expiring on June 9 that allows Proofpoint to consider other offers. If no superior offer is selected, the Thoma Bravo deal is expected to close during the third quarter.“Today’s announcement is a testament to the strength of Proofpoint’s people-centric approach to cybersecurity and compliance and underscores our important role preventing, defending and responding to today’s threats,” says Proofpoint CEO Gary Steele. “We have made tremendous strides in expanding the sophistication and scale of our offerings, and in 2020 we generated more than $1 billion in annual revenue – making Proofpoint the first SaaS-based cybersecurity and compliance company to reach that

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Proofpoint enters agreement to be acquired by Thoma Bravo in $12.3B deal