Thoma Bravo, a software investment firm, has completed its acquisition of Proofpoint Inc., a cybersecurity and compliance company, for approximately $12.3 billion in cash.

Upon completion of the acquisition, Proofpoint stockholders were entitled to receive $176.00 in cash for each share of Proofpoint common stock they own. Proofpoint common stock has ceased trading and is no longer listed on the Nasdaq Stock Exchange.

Gary Steele, chairman and CEO of Proofpoint, said, “We are excited about this next chapter in our company’s journey. Proofpoint is well positioned to benefit from Thoma Bravo’s significant experience investing in software companies and overall approach to value creation. We look forward to building on our offerings to continue preventing, defending and responding to both today’s and tomorrow’s cybersecurity threats. I’m extremely grateful to our team members whose dedication and hard work have contributed to Proofpoint’s success and made this possible and, together, I know we’ll deliver even more innovative solutions for our customers.”

“We are thrilled to officially embark on our partnership with Proofpoint and begin supporting Proofpoint’s ongoing mission of protecting organizations from the ever-increasing threat of cyberattacks,” said Seth Boro, a managing partner at Thoma Bravo. “We are looking forward to working closely with Gary and the Proofpoint team to leverage Thoma Bravo’s deep cybersecurity expertise to help propel the company’s continued innovation and growth. We believe that as cyber threats continue to evolve, Proofpoint’s people-centric security and compliance strategy along with its innovative product suite will allow Proofpoint to drive significant growth and offer protection to even more customers as a private company.”