Thoma Bravo has a track record of taking publicly traded cybersecurity companies private, having done just that with network security company Barracuda in a 2017 deal worth $1.6 billion and with Sophos last year for $3.9 billion. The Proofpoint deal, which is expected to close in Q3 2021, sees Thoma Bravo paying a 34% premium on Proofpoint’s closing price at the last full trading day (April 23), with shareholders set to receive $176 for each share they own. It’s worth noting that the $12.3 billion price tag positions this as the biggest cybersecurity acquisition of all time, putting it ahead of the $7.68 billion Intel shelled out for McAfee 11 years ago. And by VentureBeat’s calculations, the Proofpoint acquisition represents one of the biggest overall technology acquisitions ever, putting it in the top 20, alongside megadeals that include Dell’s $67 billion EMC purchase, IBM’s $34 billion Red Hat deal, and Salesforce’s impending $27.7 billion Slack acquisition.
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