Proofpoint has announced it has entered into an agreement to purchase Pittsburgh-based Wombat Security Technologies for $225 million in cash.
By acquiring Wombat, the Sunnyvale, California-based company adds phishing simulation and security training to its suite of products. Proofpoint’s established products and solutions include email security, advanced threat protection and data archiving.
Proofpoint also will incorporate Wombat’s PhishAlarm into its threat intelligence products, with the goal of providing broader visibility and intelligence when it comes to phishing attacks. More than of half of all respondents (53 percent) to a Wombat-authored study dealt with spearphishing attacks in 2017.
Because threat actors target employees as the weakest link, companies need to continuously train employees and arm them with real-time threat data,” said Gary Steele, Proofpoint CEO, in announcing the deal Tuesday. “The acquisition of Wombat gives us greater ability to help protect our customers from today’s people-centric cyberattacks, as cybercriminals look for new ways to exploit the human factor.”
Proofpoint expects the deal to increase yearly revenue and billings by $30 million to $32 million.
The deal is expected to close in the first quarter of 2018.