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Proofpoint To Buy ObserveIT For $225 Mln In Cash

(RTTNews) - Proofpoint Inc. (PFPT) said that it agreed to buy ObserveIT, the insider threat management platform, for $225 Million in Cash; It expects to close the deal in the fourth quarter of 2019.

Proofpoint said it will extend its data loss prevention (DLP) capabilities with endpoint joining email, CASB, and data-at-rest to form an enhanced enterprise DLP offering.

Proofpoint expects that ObserveIT's financial results would be nominally accretive for the company's revenue and billings guidance for the fourth-quarter of 2019.
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