2. Deal Will Help Proofpoint Reach Operational, Market Ambitions

Proofpoint was approached by Thoma Bravo, and closely reviewed the private equity firm’s proposal with the assistance of independent financial and legal advisors, said Dana Evan, lead independent director on Proofpoint’s board. The company determined the deal would create immediate and certain value for shareholders and help Proofpoint achieve its operational and market ambitions more quickly.

The proposed acquisition by Thoma Bravo is expected to give Proofpoint the flexibility and resources needed to continue providing an effective cybersecurity and compliance offering, the company said. Proofpoint said it also expects to benefit from Thoma Bravo’s operating capabilities, capital support and deep sector expertise.

“We believe that, as a private company, we can be even more agile with greater flexibility to continue investing in innovation, building on our leadership position, and staying ahead of threat actors,” Proofpoint Chairman and CEO Gary Steele said in a statement. “Thoma Bravo is an experienced software investor, providing capital and strategic support to technology organizations, and our partnership will accelerate Proofpoint’s growth and scale at an even faster pace.”