10 Things To Know About The Thoma Bravo-Proofpoint Deal And Stock Hike
Here’s a look at how Proofpoint can leverage Thoma Bravo’s expertise and track record to its advantage, the likelihood of another buyer coming in with a superior bid for Proofpoint, and why this deal is likely to kick off a tech M&A spree.
4. After An 18-Month Break, Thoma Bravo Resumes Its Cybersecurity Buys
Thoma Bravo has returned to the buyer’s side of the table after a massive cybersecurity acquisition spree in 2018 and 2019. During those two years, Thoma Bravo agreed to buy: storage and security player Barracuda Networks for $1.6 billion; security information and event management vendor LogRhythm; application and data protection vendor Imperva for $2.1 billion; application security vendor Veracode for $950 million; and SMB platform security stalwart Sophos for $3.82 billion.
The private equity firm also bought a controlling stake in identity management vendor Centrify in July 2018, and three months later unveiled plans to spin the company’s Identity-as-a-Service business into a stand-alone operation called Idaptive. Thoma Bravo sold Idaptive to Centrify rival CyberArk in May 2020 for $70 million, and sold Centrify to TPG in January, where the company is merging with Thycotic.
“Thoma Bravo’s approach to value creation is rooted in partnering with the organization in which we invest and looking for opportunities to both enhance their existing operations and build technology platforms that drive significant growth,” Thoma Bravo Managing Partner Seth Boro said in a statement announcing the Proofpoint acquisition.