Thoma Bravo, the software-focused buyout firm, agreed to acquire cybersecurity and compliance firm Proofpoint in a deal it said values the business at about $12.3 billion.
The private equity firm is offering $176 a share in cash, representing a 34% premium to Proofpoint’s April 23 closing price, according to a statement Monday. Proofpoint’s board has unanimously approved the deal, which still needs approval from shareholders as well as regulatory clearance.
Proofpoint offers cloud-based threat detection, data archiving and information protection services to corporate customers. The acquisition will add to the $15.5 billion of private-equity takeovers in the technology industry announced this year, according to data compiled by Bloomberg.
Source: Pensions & Investment
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.