Proofpoint to Acquire Cybersecurity Company ObserveIT for $225 Million
Headquartered in Boston with a research and development center in Israel, ObserveIT offers internal threat management technology
Meir Orbach : 2019-11-03T11:49:40..
Nasdaq-listed cybersecurity company Proofpoint Inc. announced on Sunday a definitive agreement to acquire internal threat management company ObserveIT Ltd. for $225 million. The deal is expected to be completed by the end of the year, subject to customary closing conditions. Founded in 2006 by Gaby Friedlander and Avi Amos, ObserveIT is headquartered in Boston with a research and development center in Israel. The company raised $53 million to date according to Crunchbase, and Bain Capital Ventures, the venture capital division of U.S. based asset management company Bain Capital, is a major shareholder. ObserveIT employs 150 people, 70 of them in Israel, and has over 1,800 customers across 87 countries. signed a deal to acquire Tel Aviv-based cybersecurity startup Meta Networks Ltd. for $120 million. In 2016, it paid around $55 million for cloud cybersecurity company FireLayers Inc.