Proofpoint, the cybersecurity company, has bought threat management firm ObserveIT for $225m.
The deal is expected to close in the final quarter of 2019. Proofpoint aims to use the latest addition to its roster to strengthen its data loss prevention capabilities.
“Today’s ObserveIT acquisition underscores Proofpoint’s commitment to providing organisations with people-centric cybersecurity and compliance solutions that protect what matters: their people and the data they have access to, in a post-perimeter, cloud-first world,” said Gary Steele, chairman of the board and CEO of Proofpoint.
“Defending data requires the ability to detect risky insider threat behaviour and risky user activity, and swiftly mitigate risk across cloud apps, email, and endpoints. We are the only security company that provides organizations with deep visibility into their most attacked people – and with ObserveIT, we will bring to market the first truly innovative enterprise DLP offering in years. We are thrilled to welcome ObserveIT’s employees and customers to Proofpoint.”
ObserveIT and Proofpoint’s technologies hope that the combination of the two companies’ solution will mean they can deliver real-time detection of the anomalous interactions across people, data, devices, and applications allowing security teams to understand and respond to data being mishandled, whether on a corporate device, in a cloud app like Office 365, or via email.
“Proofpoint’s leadership in people-centric cybersecurity security, broader intelligence and R&D resources are significant market differentiators and directly complement our ability to quickly detect insider threats and prevent critical information loss,” said Mike McKee, CEO at ObserveIT.
“We are very excited to join the Proofpoint team and provide customers with even more powerful solutions to mitigate insider threats, decrease incident investigation time, and make sure users don’t intentionally or accidentally send valuable, confidential information externally.”
The news about the acquisition comes a year after ObserveIT closed a $33m Series B funding round.
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