PFPT - Proofpoint To Acquire ObserveIT For Insider Threat Monitor Tech
Quick Take
Proofpoint (PFPT) has announced an agreement to acquire ObserveIT for $243 million in cash and restricted stock units.
ObserveIT has developed a security software system to monitor insider threats to enterprise IT systems in organizations.
PFPT acquired ObserveIT as part of its ‘people-centric’ approach to reducing cyber threats.
Customers are seeking to consolidate vendors so I expect to see continued pressure to build or acquire technologies to increase the breadth and depth of security offerings in an increasingly complex IT operating environment.
Target Company
Israel-based ObserveIT was founded to assist enterprises