SaaS provider Proofpoint will make technology acquisition to improve cloud offerings
Companies of all sizes are working to improve their cloud computing options as more consumers are trying to integrate that technology into their daily operations. Being able to offer reliable and secure storage options in this area is not always easy, which is why some businesses are finding it more beneficial to work together.
Proofpoint, Inc., a security-as-a-service provider announced in a press release that it will acquire Armorize Technologies, Inc. for approximately $25 million. The technology acquisition will improve Proofpoint's digital offerings as Armorize specializes in cloud-based (SaaS) anti-malware products.
"We are proud to join forces with a company that is leading the way in the fight to keep data safe in the face of evolving attacks such as Advanced Persistent Threats," Armorize CEO Wayne Huang said in the press release. "Being part of the Proofpoint organization will definitely enable Armorize to further leverage our core technologies and research across a wider range of customers."
Proofpoint CEO Gary Steele agreed, saying that the transaction helps his company gain ground in cloud-based, next-generation threat detection technology. With Armorize's "world-class malware research expertise," his firm will be able to remain ahead of the competition. Steel also said that the technology acquisition will push Proofpoint's Targeted Attack Protection, which is an anti-spearphishing solution.
Specifically, Armorize creates threat protection technologies, including dynamic threat protection, anomaly detection and malware sandboxing. This has allowed them to detect malware earlier.
Proofpoint expects the M&A activity to finalize by the end of the third quarter this year. Furthermore, the SaaS company expects the move to have an immaterial impact on revenues and billings during that time.