(Reuters) – Private equity firm Thoma Bravo said on Monday it would buy cyber security firm Proofpoint Inc in an all-cash deal valued at about $12.3 billion, at a time when remote working has boosted demand for network security.
Proofpoint shareholders will receive $176 per share held, indicating a premium of about 34% to the stock’s last close.
The transaction is expected to close in the third quarter, the company said.
(Reporting by Eva Mathews in Bengaluru; Editing by Sriraj Kalluvila)
