Thoma Bravo to take cybersecurity firm Proofpoint private in $12.3 billion deal

(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)