{"id":440766,"date":"2021-02-22T09:03:26","date_gmt":"2021-02-22T14:03:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=440766"},"modified":"2021-02-22T09:03:26","modified_gmt":"2021-02-22T14:03:26","slug":"proofpoint-enters-into-definitive-agreement-to-acquire-intelisecure-augments-people-centric-managed-services-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/proofpoint-enters-into-definitive-agreement-to-acquire-intelisecure-augments-people-centric-managed-services-offering\/","title":{"rendered":"Proofpoint Enters into Definitive Agreement to Acquire InteliSecure; Augments People-Centric Managed Services Offering"},"content":{"rendered":"

\nProofpoint\u2019s Enterprise DLP solution across cloud, email and endpoint boosted by proven managed services to help companies build and operate world-class data protection programs
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SUNNYVALE, Calif., Feb. 22, 2021 (GLOBE NEWSWIRE) — Proofpoint, Inc.<\/u><\/a> (NASDAQ: PFPT), a leading cybersecurity and compliance company,\u00a0has entered into a definitive agreement to acquire InteliSecure, Inc. (\u201cInteliSecure\u201d), an innovator in data loss protection managed services. With this acquisition, Proofpoint looks to strengthen its cloud-based people-centric security platform by enhancing customers\u2019 ability to protect critical data in diverse environments. Under the terms of the agreement, Proofpoint will acquire InteliSecure for $62.5 million in cash, subject to customary purchase price adjustments. The acquisition is expected to close during this first quarter of 2021, subject to satisfaction of customary closing conditions.<\/p>\n

\u201cWe\u2019ve seen exceptional customer demand for information protection managed services as organizations are continuing to work in a cloud-first, remote-oriented world,\u201d said Gary Steele, chief executive officer of Proofpoint. \u201cThe acquisition of InteliSecure will support our ability to collectively help our customers and partners with people-centric managed security services that leverage the technology and deep expertise of InteliSecure applied across Proofpoint\u2019s market leading security and compliance platforms. We eagerly anticipate welcoming InteliSecure\u2019s employees to the Proofpoint team.\u201d<\/p>\n

Proofpoint\u2019s unique people-centric approach to data loss prevention (DLP) is trusted by organizations worldwide\u2014whether due to unintentional mistakes or malicious intent. With an automated common content classification that has been honed for nearly 15 years, Proofpoint\u2019s cloud-based solution provides data visibility and context across multiple channels from a single console. InteliSecure\u2019s managed service capabilities will complement Proofpoint\u2019s information protection<\/a> solution and Premium Security Services<\/a>. Proofpoint believes there is a multi-billion-dollar addressable market associated with helping customers and partners through people-centric managed security services that leverage the technology and deep expertise of InteliSecure, applied across Proofpoint\u2019s market leading security and compliance platforms. InteliSecure\u2019s technology and expertise simplify data protection for customers through streamlining policy creation, providing unified event visibility across tools, delivering real-time reporting required by key stakeholders, and reducing noise to increase focus on critical incidents.<\/p>\n

\u201cOrganizations urgently need an effective strategy to safeguard data with new remote working environments and resource-constrained internal teams,\u201d said Steven Drew, chief executive officer at InteliSecure. \u201cWith insider employees, contractors, or third-party carelessness causing nearly two-thirds of serious data loss incidents, joining the Proofpoint team will allow us to offer services to customers to better protect against accidental mistakes, attacks and insider risk\u2014across cloud services, email, endpoint, and on-premises file shares.\u201d<\/p>\n

The acquisition of InteliSecure will add approximately 150 employees to Proofpoint\u2019s growing global team and will boost Proofpoint\u2019s ability to support its robust channel partner ecosystem\u2019s service delivery and increase partners\u2019 competitiveness by providing processes and experience from working with multiple vendors. Proofpoint will be actively adopting best practices in partner programs and relationships to best meet channel needs.<\/p>\n

Contingent upon timely closing in March, Proofpoint expects InteliSecure to have the following contribution to its financial outlook for the full year 2021:<\/p>\n