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Proofpoint to acquire InteliSecure for £62.5m

The cyber security firm moves to strengthen its cloud-based security platform

Proofpoint has entered into a definitive agreement to acquire data loss protection MSP InteliSecure for £62.5m, as the cyber security firm moves to strengthen its cloud-based security platform. 

The US firm says InteliSecure's managed service capabilities will complement its information protection solution and Premium Security Services to better help customers and partners. 

The addition will simplify data protection through streamlining policy creation, with InteliSecure providing unified event visibility across tools, delivering real-time reporting required by stakeholders, as well as reducing noise to increase focus on incidents, Proofpoint says.

"We’ve seen exceptional customer demand for information protection managed services as organisations are continuing to work in a cloud-first, remote-oriented world," commented Gary Steele, Proofpoint CEO. 

"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."

With automated common content classification that has been honed for nearly 15 years, Proofpoint’s cloud-based data loss protection (DLP) solution provides data visibility and context across multiple channels from a single console. 

The cyber security firm says the InteliSecure acquisition will boost its ability to support its channel partner ecosystem’s service delivery, as well as increase partners’ competitiveness by providing processes and experience from working with multiple vendors. Those include Microsoft, Forcepoint, Netskope, Broadcom and Rootshell.

Proofpoint added that it will be actively adopting best practices in partner programmes and relationships to best meet channel needs.

Expected to close next month subject to customary closing conditions, the move will also add around 150 employees to the business’ growing global team.

Upon closing, Proofpoint predicts the InteliSecure acquisition will increase its revenue range by approximately $10m and reduce the non-GAAP net income range by around $5m. It is expected there will be a neutral impact to free cash flow. 

"Organisations urgently need an effective strategy to safeguard data with new remote working environments and resource-constrained internal teams," said Steven Drew, InteliSecure CEO. 

"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."

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