SUNNYVALE, Calif., Oct. 20, 2016 (GLOBE NEWSWIRE) -- Proofpoint, Inc., (NASDAQ:PFPT), a leading next-generation cybersecurity company, has entered into a definitive agreement to acquire FireLayers, an innovator in cloud security. With this acquisition, Proofpoint will extend Targeted Attack Protection (TAP) to SaaS applications, enabling customers to protect their employees using SaaS applications from advanced malware. In addition, the threat intelligence extracted from SaaS applications will enhance the Proofpoint Nexus security and compliance platform, expanding Proofpoint's ability to deliver protection for the way people work today.
"FireLayers gives us a platform to scale and protect the thousands of SaaS applications that enterprises use, as well as a seasoned product and engineering team to execute," said Gary Steele, Proofpoint CEO. "Also, as part of today's news, we are pleased to expand our global cybersecurity presence in EMEA with a new office location in Israel."
As users increasingly click links and access files in cloud services, SaaS applications have become an important and often invisible threat vector for malware. The combination of Proofpoint TAP and FireLayers will enable enterprises to detect and block both malicious files and links shared via SaaS applications. As with other modules of TAP, this will be sold separately and will be available in the first half of 2017.
FireLayers-powered SaaS application threat intelligence will feed the Proofpoint Nexus platform to amplify Proofpoint's correlated threat intelligence across its global ecosystem. With today's announcement, enterprises will be able to protect themselves against a variety of targeted attacks, including for example:
- Malware in files shared via SaaS file sharing platforms, such as Microsoft Office 365 (both SharePoint Online and OneDrive for Business) or Dropbox, and within files uploaded to a ticket in customer service applications, such as Salesforce or ServiceNow
- Malicious links embedded in resumes uploaded to Human Capital Management applications such as Oracle Taleo and Workday
- Malware posted by an attacker, who has compromised a trusted
partner, to SaaS collaboration tools including Box or Slack
"We built FireLayers with one goal: to help enterprises secure their cloud applications—and we are thrilled to accelerate our mission and bring Proofpoint's exceptional capabilities to SaaS applications," said Yair Grindlinger, CEO and co-founder of FireLayers. "Our decision to join Proofpoint is based on its high caliber cybersecurity innovation and effectiveness at protecting customers worldwide from advanced threats. And the new Proofpoint Israel office extends that exceptional leadership presence into Israel for long-term success."
The purchase price for the transaction is approximately $55 million, with approximately $46 million in cash and the
remaining approximately $9 million in Proofpoint stock subject to continued vesting. The closing is subject to customary closing conditions and is expected to occur this quarter.
For more information about Proofpoint Targeted Attack Protection, please visit https://www.proofpoint.com/us/products/targeted-attack-protection
About Proofpoint, Inc.
Proofpoint Inc. (NASDAQ:PFPT) is
a leading next-generation security and compliance company that provides cloud-based solutions to protect the way people work today. Proofpoint solutions enable organizations to protect their users from advanced attacks delivered via email, social media and mobile apps, protect the information their users create from advanced attacks and compliance risks, and respond quickly when incidents occur. More information is available at www.proofpoint.com.
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Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. All other trademarks contained herein are the property of their respective owners.
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding future product releases and features. It is possible that future circumstances might differ from the assumptions on which such statements are based. Important factors that could cause results to differ materially from the statements herein include: risks related to integrating the employees, customers and technologies
of acquired businesses; assumption of unknown liabilities from acquisitions; ability to retain customers of acquired entities risks associated with successful implementation of multiple integrated software products and other product functionality; competition, particularly from larger companies with more resources than Proofpoint; risks related to new target markets, new product introductions and innovation and market acceptance thereof; the ability to attract and retain key personnel; potential changes in strategy; unforeseen delays in developing new technologies and the uncertain market acceptance of new products or features; and the other risk factors set forth from time to time in our filings with the SEC, including our Quarterly Report on Form 10-Q for the three months ended June 30, 2016, and the other
reports we file with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. All forward-looking statements herein reflect our opinions only as of the date of this release, and Proofpoint undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events.
Source: Proofpoint, Inc.
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