With the Proofpoint acquisition, Thoma Bravo continued a cybersecurity acquisition spree. The private equity firm also bought Imperva for $2.1 billion and Barracuda Networks for $1.6 billion. In addition, it took a majority stake in Centrify, a rival of CyberArk Software.
Proofpoint stock catapulted 31 per cent to close at 172.70 on the stock market today.
‘We do not see another bidder on Proofpoint and expect no regulatory hurdles’, Wedbush analyst Daniel Ives said in a report to clients. The deal is expected to close in the third quarter.
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Proofpoint Stock Relative Strength Rating Lagged
Proofpoint also pre-announced March-quarter earnings. Adjusted profit rose 29 per cent to 49 cents a share, the cybersecurity firm said. Revenue increased 15 per cent to $287.8 million.
Sunnyvale, Calif.-based Proofpoint specializes in email and data-loss protection. Proofpoint stock competes with FireEye, Mimecast as well as a slew of startups including Menlo Security, Cofense and KnowBe4.
Mergers and acquisitions have picked up among cybersecurity stocks. In addition, Microsoft looms as a rival.
