Proofpoint to Acquire Intelisecure for $62.5 Million

Proofpoint to Acquire Intelisecure for $62.5 Million

By Luke Bellos

Cybersecurity firm Proofpoint has announced that the company has officially agreed to purchase Intelisecure, a managed service provider that focuses specifically on data loss protection.

The cloud revolution that was sparked in 2020 has caused cybersecurity companies to place a new focus on remote environments. Proofpoint plans to expand upon its data protection services, by utilizing Intelisecure’s cloud-based security solutions specifically for remote activity of customers. The merger between the companies would hybridize managed security services with compliance platforms, giving customers universal protection for their data and cloud services.

“Organizations urgently need an effective strategy to safeguard data with new remote working environments and resource-constrained internal teams,” said InteliSecure CEO Steven Drew, “With insider employees, contractors, or third-party carelessness causing nearly two-thirds of serious data loss incidents, joining the Proofpoint team will allow us to offer services to customers to better protect against accidental mistakes, attacks and insider risk—across cloud services, email, endpoint, and on-premises file shares.”

Though this initial agreement is official, both companies still require further conditional approvals and adjustments.. If successful, Proofpoint will pay $62.5 in cash to purchase Intelisecure at the end of the first quarter of 2021. The acquisition will also bring 150 Intelisecure employees to Proofpoint’s global team.

“We’ve seen exceptional customer demand for information protection managed services as organizations are continuing to work in a cloud-first, remote-oriented world,” said Proofpoint CEO Gary Steele. “The acquisition of InteliSecure will support our ability to collectively help our customers and partners with people-centric managed security services that leverage the technology and deep expertise of InteliSecure applied across Proofpoint’s market leading security and compliance platforms. We eagerly anticipate welcoming InteliSecure’s employees to the Proofpoint team.”

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Edited by Maurice Nagle
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