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Nikesh Arora CEO & Chairman Palo Alto Networks, speaking on CNBC's Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Palo Alto Networks is buying cloud security software assets from IBM as part of a broader partnership that will give the cybersecurity company access to more consultants and a bigger customer base. Consolidation has been ramping up in the security software industry as companies gear up for a swarm of attacks spawned by artificial intelligence. Palo Alto will incorporate IBM's Watsonx large language models into Cortex Xsiam, in addition to its use of models from Google . The SIEM category has been around for over 20 years, but Palo Alto just introduced Cortex Xsiam two years ago.
Persons: Nikesh Arora, Thoma Bravo's LogRhythm, Palo, Arora, he'd, Arvind Krishna, It's Organizations: Alto Networks, Palo Alto Networks, IBM, Palo Alto, Cisco, Splunk, Exabeam, CNBC, Palo, Google Locations: Davos, Switzerland, Palo, SIEM, cybersecurity, Palo Alto
Thoma Bravo took SailPoint private in a $6.9 billion acquisition last August. Almeida has cultivated Thoma Bravo's cybersecurity portfolio into one of the largest in the private-equity industry, totaling nearly $40 billion in enterprise value. His focus in the security industry has helped Almeida — the firm's youngest partner — become a key leader of its flagship strategy. Beyond SailPoint, Almeida co-led the portfolio company Imprivata's 2022 purchase of SecureLink, in a deal valued at $3.5 billion. He also helped source and execute Thoma Bravo's $12.3 billion acquisition of Proofpoint in 2021, the largest private-equity cloud deal at the time.
Persons: Andrew Almeida, Thoma Bravo Thoma, Thoma Bravo Thoma Bravo Almeida, he'd, Thoma Bravo, Almeida, It's, — Orlando Bravo, Scott Crabill, Chip Virnig, Seth Boro —, Thoma, Virnig, Almeida —, , Bianca Chan Organizations: Thoma Bravo Thoma Bravo, Bravo, Compuware Locations: Proofpoint
Steven Teixeira, who served as chief compliance officer for the U.S. arm of China's LianLian Global, pleaded guilty to the federal charges under a cooperation agreement. Teixeira allegedly obtained insider information, including advance knowledge of Broadcom's announced $61 billion acquisition of VMware from 2022, and shared it with an associate for profit. Proofpoint was taken private in 2021 by private equity firm Thoma Bravo in a $12.3 billion deal, within the timeframe Teixeira was allegedly trading insider information. Teixeira allegedly shared the insider information with his associate, Jordan Meadow, who is also charged with violating federal insider trading laws. Kennedy and Van Hollen introduce bill to block foreign executives from insider trading
Persons: Steven Teixeira, Teixeira, Broadcom's, Thoma Bravo's, Proofpoint, Thoma, Jordan Meadow, Meadow, Scott Thompson, Kennedy, Van Hollen Organizations: U.S . Securities, Exchange Commission, New, U.S, SEC, VMware, Thoma Bravo, of Locations: New York, Southern, of New York, Philadelphia, Sens
Adenza was created in 2021 when Thoma Bravo merged Calypso Technologies with AxiomSL and is expected to generate about $590 million in revenue this year. As part of the Adenza deal, Thoma Bravo will get a 14.9% stake in Nasdaq, making the private equity firm one of the company's biggest shareholders. Nasdaq said buying Adenza is expected to increase the medium-term organic revenue growth outlook for its Solutions Businesses, which designs and develops financial software for investors, from 7%-10% to 8%-11%. Goldman Sachs & Co and J.P. Morgan Securities are financial advisers to Nasdaq, while Qatalyst Partners is lead financial advisor to Thoma Bravo and Adenza. Wachtell, Lipton, Rosen & Katz is serving as legal adviser to Nasdaq, while Kirkland & Ellis is serving as legal adviser to Thoma Bravo and Adenza.
Persons: Thoma, Adena Friedman, Morningstar, Michael Miller, Friedman, Adenza, Andrew Bond, Holden Spaht, Thoma Bravo's Spaht, Goldman Sachs, Wachtell, Lipton, Katz, Ellis, Manya Saini, Anirban Sen, John McCrank, David French, Milana, Michelle Price, Sruthi Shankar, Nivedita Bhattacharjee, Nick Zieminski, Lisa Shumaker Organizations: Thoma Bravo, Nasdaq Nasdaq, Nasdaq, Calypso Technologies, REUTERS, OMX, International Securities Exchange, Rosenblatt Securities, Solutions, Goldman Sachs & Co, Morgan Securities, Qatalyst, Rosen, Kirkland, Adenza, Thomson Locations: New York City, U.S, Adenza, Bengaluru, New York, Washington
Watch CNBC's full interview with Thoma Bravo's Orlando Bravo
  + stars: | 2023-05-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Thoma Bravo's Orlando BravoThoma Bravo's founder and managing partner Orlando Bravo joins David Faber from the Milken Institute Global Conference.
Private equity firms lend less as demand cools
  + stars: | 2023-03-03 | by ( Chibuike Oguh | ) www.reuters.com   time to read: +4 min
The amount of loans disbursed by direct lenders so far in 2023 has not shown any pickup, the Refinitiv data shows. Also weighing on deal volumes is the cost of borrowing from private equity firms. This has dampened demand for loans from private equity firms. For their part, private equity firms have also become more risk-averse when it comes to lending, as the economic slowdown and sticky price inflation erode the credit worthiness of some borrowers. To be sure, major deals using private equity firms as lenders are still getting done as banks have continued their retrenchment from risky debt.
Watch CNBC’s full interview with Thoma Bravo's Orlando Bravo
  + stars: | 2023-03-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Thoma Bravo's Orlando BravoOrlando Bravo, Thoma Bravo, joins 'Closing Bell: Overtime' to discuss the tech sector, AI and software investing.
The returns show losses from Thoma Bravo and Clearlake, though the funds are new and PE is a long game. Thoma Bravo and Clearlake Capital Group, two private-equity firms that have emerged as notably active investors in recent years, have posted early losses across some of their funds, according to investment returns from a major US endowment. UTIMCO invested $51.7 million in Clearlake's seventh flagship private equity fund, known as Clearlake Capital Partners VII, which closed with some $14 billion of commitments last May. Thoma Bravo declined to comment. Meanwhile, the data show high returns from CapRock Partners, Renovus Capital Partners, Serve Capital Partners, and LFM Capital, PE firms that target middle-market companies.
"We're certainly telling clients to plan for longer timelines between signing an announcement and when a transaction closes," RBC's Sperduto said. Bankers noted the figure was on pace with the average amount of deals done in the five years preceding the pandemic. "There is still significant desire from both corporates and financial sponsors to transact," Gary Posternack, co-head of global M&A at Barclays, told Insider. But in 2023, bankers see more transactions receiving greater scrutiny from stakeholders. Vito Sperduto, the co-head of global M&A at RBC Capital Markets.
(Hint: it's not on Wall Street.) Meanwhile, the largest deal of the year — Microsoft's $68.7 billion bid for Activision — might not even happen, thanks to regulators. But credit unions and community banks aren't happy with the new terms, The Wall Street Journal reports. Big tech nabs from Wall Street. Company culture on Wall Street: not great!
Thoma Bravo to take Coupa Software private at $81 per share
  + stars: | 2022-12-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThoma Bravo to take Coupa Software private at $81 per share'Mad Money' host Jim Cramer and the 'Squawk on the Street' team discuss Thoma Bravo's recent announcement to buy Coupa Software for $6.15 billion.
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