Proofpoint to acquire ObserveIT for $225m.

Proofpoint, an enterprise security company based in Sunnyvale, California, agreed to acquire ObserveIT, an Insider Threat Management software company, for $225m. Closing of the transaction is expected to occur late in the fourth quarter of 2019, and is subject to customary closing conditions, including Hart-Scott-Rodino merger review, and any other required regulatory approvals. “Today’s ObserveIT acquisition underscores Proofpoint’s commitment to providing organizations with people-centric cybersecurity and compliance solutions that protect what matters: their people and the data they have access to, in a post-perimeter, cloud-first world,” Gary Steele, Proofpoint Chairman of the Board and CEO.