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Market Overview

Proofpoint To Acquire Data Security Provider InteliSecure For $62.5M

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  • Cybersecurity company Proofpoint, Inc. (NASDAQ: PFPTinked an agreement to acquire data security provider InteliSecure, Inc for $62.5 million in cash to consolidate its cloud-based people-centric security platform. The acquisition is expected to close during the first quarter of 2021.
  • “The 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’s market-leading security and compliance platforms. We eagerly anticipate welcoming InteliSecure’s employees to the Proofpoint team,” said Proofpoint CEO Gary Steele.
  • The acquisition has estimated revenue synergies of $10 million for FY21.
  • Proofpoint anticipates a multi-billion-dollar addressable market for people-centric managed security services that leverage the technology and expertise of InteliSecure across Proofpoint’s security and compliance platforms.
  • The acquisition of InteliSecure will add 150 employees to Proofpoint’s global team and boost its channel partner ecosystem’s service delivery and increase partners’ competitiveness.
  • Proofpoint’s closing cash equivalents stood at $910.3 million as of December 31, 2020.
  • Price action: PFPT shares are down 3.76% at $133.90 on the last check Monday.
 

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