Sunnyvale, CA-based cybersecurity company Proofpoint has declared it has bought the security awareness and phishing simulation business Wombat Security Technologies. The agreement is for $225 million and is likely to conclude in the first quarter of 2018.
Proofpoint is already a main player in the cybersecurity marketplace offering email security, data loss prevention, encryption, advanced threat protection and several other digital safety facilities to companies. Although the company has focused on technologies to defend companies from ransomware, malware, and phishing, the company doesn’t provide facilities for its clients to assist them to face the human part of malware and phishing defenses.
Although it’s possible to avoid the majority of malevolent electronic mails from accessing inboxes with safety software, it’s unavoidable that some malevolent electronic mails will sneak past those safety controls. When that occurs, workers should be capable to identify dangers and take the correct action.
The purchase of Wombat Security Technologies closes that gap and lets Proofpoint offer a more broad safety facility for its clients.
Research carried out by many phishing simulation businesses, including Wombat and PhishMe, has indicated that vulnerability to phishing attacks can be decreased by over 90% when workers receive safety consciousness training as well as have their knowledge checked with replicated phishing electronic mails.
Wombat Security Technologies was lately incorporated in Gartner’s Bests Quadrant of the Magical Quadrant for Safety Consciousness Computer-Based Coaching for its capability to perform and wholeness the idea. The company was, for that reason an attractive objective for Proofpoint.
“The purchase of Wombat provides us a better capability to assist defend our clients from these days’ people-centric cyberattacks because cybercriminals search for different methods to abuse the human part. We are excited to welcome Wombat’s workers to the Proofpoint squad,” said Proofpoint CEO, Gary Steele.
“We look forward to continuing our innovation and leadership as a part of Proofpoint since we carry on to guide the market for measurable, effective safety consciousness training which modifies worker manners and decreases enterprise risk,” said CEO of Wombat, Joe Ferrara.
Proofpoint intends to include Wombat’s phishing replication platform and its safety consciousness training material into its innovative electronic mail solution set in the 1st half of 2018.
Proofpoint supposes to see a substantial profit on its $225 million investment. The Sunnydale Company supposes the purchase of Wombat will assist it to raise income margin by $30 to $32 million, raise invoicing by $30-$32 million and raise free cash flow by $2 million.