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Proofpoint, Inc. (NASDAQ: PFPT) has entered into a definitive agreement to be acquired by Thoma Bravo for approximately $12.3 billion in cash. Shareholders will receive $176.00 per share, a 34% premium over the closing price on April 23, 2021. This acquisition allows Proofpoint to operate as a private company, enhancing its flexibility for innovation. The transaction awaits shareholder approval and is subject to customary closing conditions, with a projected completion in Q3 2021. Proofpoint's strong revenue growth exceeded $1 billion in 2020.
Proofpoint, Inc. (NASDAQ: PFPT) announced it will release its financial results for Q1 2021 on April 29, 2021, post-market close. A conference call will follow at 1:30 PM PT to discuss these results with investors and analysts. Participants can join via phone or listen to a live webcast on the company’s investor website. This marks a critical update for stakeholders as they anticipate insights into the company's financial health and performance metrics.
Proofpoint has been awarded the 2020 Australia Email Security Vendor of the Year by Frost & Sullivan, reflecting its significant market presence with a 26.1% share in Australia. The company is recognized for its integrated email security solutions, emphasizing a people-centric approach and cloud-based services. Proofpoint's agility in integrating features such as data loss prevention and its partnerships with technology providers like Crowdstrike and Okta enhance its flexibility and scalability, positioning it well for future market demands.
Proofpoint (NASDAQ: PFPT) announced the election of Elizabeth "Betsy" Rafael as an independent director on February 25, 2021. She will also chair the audit committee. Ms. Rafael brings extensive financial expertise, having previously held leadership roles at Autodesk, GoDaddy, Apple, Cisco Systems, and Silicon Graphics. CEO Gary Steele highlighted her financial acumen as a key asset for Proofpoint's growth and profitability. This leadership change could enhance the company's strategic direction and financial management.
Proofpoint has entered into a definitive agreement to acquire InteliSecure for $62.5 million in cash. This strategic acquisition aims to enhance Proofpoint's cloud-based security platform and improve data protection capabilities across various environments. The deal is expected to close in Q1 2021, contributing approximately $10 million to Proofpoint's revenue while reducing Non-GAAP net income by $5 million due to integration costs. Approximately 150 employees from InteliSecure will join Proofpoint, strengthening its managed security services.
Proofpoint (NASDAQ: PFPT) has been recognized as a leader in the SMS Firewall market by Juniper Research for its excellence in combating mobile messaging threats. The Cloudmark division of Proofpoint provides advanced anti-spam, anti-phishing, and anti-viral solutions, enhancing revenue for network operators and improving user experience. With mobile messaging seeing a significant increase in usage, Proofpoint’s solutions address evolving threats like SMS phishing and spam, aiding enterprise brands in revenue generation while reducing customer churn.
Proofpoint, a leading cybersecurity and compliance company (NASDAQ:PFPT), announced its participation in several upcoming investor events. Paul Auvil, CFO, and Jason Starr, VP of Investor Relations, will present at the Goldman Sachs Technology and Internet Conference on February 10, 2021, and at the JMP Securities Technology Conference on March 1, 2021. Additionally, CEO Gary Steele and CFO Paul Auvil will present at the Morgan Stanley Technology, Media and Telecom Conference on March 3, 2021. Live webcasts will be available on Proofpoint's investor page.
Proofpoint's seventh annual State of the Phish report highlights significant cybersecurity challenges from 2020. Despite 90% of U.S. organizations shifting to remote work, only 29% trained employees on safe practices. The report notes that 75% of organizations faced phishing attacks, with 66% experiencing ransomware infections. A concerning 68% paid ransoms, double the global average. The report emphasizes a need for tailored cybersecurity awareness training, revealing that while 98% of organizations have programs, only 64% conduct formal training sessions.
Proofpoint, Inc. (NASDAQ: PFPT) reported a strong fourth quarter for 2020 with total revenue reaching $275.1 million, a 13% increase year-over-year. Billings also saw an uptick of 8%, totaling $374.9 million. Despite a GAAP net loss of $(35.1) million or $(0.61) per share, non-GAAP EPS stood at $0.51 per share. The company generated $55.7 million in operating cash flow and had $910.3 million in cash and investments. Full-year revenue was $1,050.0 million, up 18% from 2019, with a notable focus on expanding cybersecurity services.
Proofpoint, Inc. (NASDAQ: PFPT) will release its fourth quarter and full year financial results on February 4, 2021. The announcement is scheduled after market close, followed by a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results with investors and analysts. Interested parties can access the call via a dedicated phone line or through a live webcast on Proofpoint's investor website. An audio replay will also be available soon after the call.
