Proofpoint and private equity firm Thoma Bravo recently entered an agreement in which the cybersecurity vendor will become a private company among Thoma Bravo's growing portfolio.
The company already owns a wide variety of cybersecurity vendors, including Centrify, Entrust, Imperva, LogRhythm, McAfee, and SonicWall, among others.
Proofpoint says that as a private company under Thoma Bravo, it will have additional flexibility and resources to continue to provide cybersecurity solutions around the world.
The all cash transaction values Proofpoint at $12.3 billion and is expected to close in Q3 of 2021.
Proofpoint 2021 Q1 financials
Along with announcing the agreement that will take the company private, Proofpoint also shared its financial results from Q1 of 2021. Here are some highlights that Proofpoint provided:
"Total revenue of $287.8 million, up 15% year-over-year
Billings of $276.7 million, up 16% year-over-year
GAAP EPS of $(0.79) per share, Non-GAAP EPS of $0.49 per share
Operating cash flow of $95.1 million and free cash flow of $88.5 million"
Gary Steele, the CEO at Proofpoint, had this to say about the company's financial report:
"Our first quarter results mark a strong start to the year after record revenues in fiscal year 2020. These results are a testament to our focused execution and people-centric approach to threat protection, information protection and compliance, which is winning across our market."
High-ranking officials from both companies are excited to announce this transaction and what the future between these new partners will look like.
Proofpoint says it is the first SaaS-based cybersecurity and compliance company to generate more than $1 billion in annual revenue.