Proofpoint, Inc., (NASDAQ: PFPT), a Sunnyvale, Calif.—based cybersecurity company, is to acquire FireLayers, a Redwood City, California and Herzliya Pituach, Israel-based cloud security platform provider.
The price for the transaction is approximately $55m, with approximately $46m in cash and the remaining approximately $9m in Proofpoint stock subject to continued vesting. The closing of the deal is subject to customary closing conditions and is expected to occur by the end of 2016.
With the acquisition, Proofpoint will extend protection to SaaS applications, enabling customers to protect their employees using SaaS applications from advanced malware. In addition, the threat intelligence extracted from SaaS applications will enhance Proofpoint Nexus security and compliance platform.
Sold separately, the new solution will be available in the first half of 2017.
Co-founded by Yair Grindlinger, and Doron Elgressy, FireLayers was backed by YL Ventures and Akamai Technologies.