Proofpoint (PFPT) to be acquired by Thoma Bravo at $176.00/share

 

 

 

Proofpoint to be acquired by Thoma Bravo at $176.00/share in cash or ~$12.3 bln

The agreement includes a 45-day "go-shop" period expiring on June 9, 2021, which allows the Board and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties. The Board will have the right to terminate the merger agreement to enter into a superior proposal subject to the terms and conditions of the merger agreement.

The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions, including approval by Proofpoint shareholders and receipt of regulatory approvals. Upon closing of the transaction, Proofpoint's common stock will no longer be listed on any public market. The Company will continue to be headquartered in Sunnyvale, California.

Proofpoint beats by $0.09, beats on revs

Reports Q1 (Mar) earnings of $0.49 per share, excluding non-recurring items, $0.09 better than the S&P Capital IQ Consensus of $0.40; revenues rose 15.0% year/year to $287.3 mln vs the $281.63 mln S&P Capital IQ Consensus.

Billings: Total billings for the first quarter of 2021 were $276.7 million, an increase of 16%, compared to $238.0 million for the first quarter of 2020.

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