Proofpoint Inc (PFPT) Stock Rockets On Acquisition News

Proofpoint Inc (NASDAQ:PFPT) is one of the biggest stock gainers in the pre-market session after the company has been agreed to be acquired by Thoma Bravo for $176 a share, a premium of 33.55% from Friday’s closing.

The company said that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, for approximately $12.3 billion in cash, or $176.00 a share.

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.

Moreover, the company reported its first-quarter earnings and total revenue surged 15% year-over-year to $287.8 million. Moreover, adjusted net income for the quarter grew to $31.5 million, or $0.49 a share, from  $24.4 million, or $0.38 a share.

PEPT stock is trading at $173.25 in the pre-market session, up by 31.50%.

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Uson Abdilazhanov

Editor and Computer ExpertA hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.

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