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Proofpoint Completes the Acquisition of ObserveIT
Combined solution will solve legacy endpoint data losss prevention challenges and deliver real security value through detection, response, and compliance
Sunnyvale, Calif.—November 25, 2019 – Proofpoint, Inc., (NASDAQ: PFPT), a leading cybersecurity and compliance company, today announced it has completed its acquisition of ObserveIT, the leading insider threat management platform. By combining ObserveIT’s lightweight endpoint agent technology and data risk analytics with Proofpoint’s industry-leading information classification, threat detection, and intelligence, enterprises will have unprecedented insight into user activity with their sensitive data, wherever it resides and the ability to immediately remediate risk.
“More than 30% of all data breaches are the result of insider threats and only a people-centric approach to data security can effectively prevent these breaches from happening,” said Gary Steele, chairman of the board and chief executive officer of Proofpoint. “As more companies look to successfully transition to the cloud, traditional ways of protecting data and intellectual property aren’t enough. Our acquisition of ObserveIT will help organizations overcome the challenges of legacy data loss prevention (DLP) and compliance by extending our market-leading email and cloud access security broker (CASB) DLP capabilities with endpoint. By joining email and data-at-rest solutions, Proofpoint will deliver the industry’s first truly innovative enterprise DLP offering in years.”
Companies worldwide are in a constant battle to stop cybercriminals from stealing employee credentials, to correct accidental user behaviors that can result in unintended data loss, and to prevent malicious employee action. Through this acquisition, Proofpoint will provide security teams with the capability to understand and respond to data being mishandled, whether on a corporate device, in a cloud app like Office 365, or via email allowing teams to rapidly detect, investigate, and prevent potential insider threat incidents.