SUNNYVALE, Calif., Nov. 3, 2015 (GLOBE NEWSWIRE) -- Proofpoint, Inc., (NASDAQ:PFPT), a leading next-generation cybersecurity company, has acquired Socialware, a leading provider of social media compliance solutions, for approximately $9.0 million in cash. Proofpoint's social media security solutions currently work together with Socialware's offerings in customer environments. In the first quarter of 2016, Proofpoint expects to further integrate Socialware's compliance workflow and unique content capture/review capabilities with Proofpoint Social Media Security and Compliance to create the broadest and deepest social media security and compliance solution available in the market.
Organizations worldwide are faced with a myriad of security and compliance challenges when attempting to go social. Bad actors are constantly attempting to steal customer data. For regulated industries an alphabet soup of regulators and regulations, such as the FFIEC, FINRA, FTC, FCA, IIROC and SEC, make compliance more challenging every day. As an early pioneer in social media compliance for the financial services industry, Socialware helped organizations capture and enforce compliant social media use and activity for regulated employees.
"We continue to see a growing opportunity to solve the compliance and security challenges facing companies looking to use social media," said Gary Steele, Proofpoint CEO. "With the Socialware team working as part of our dedicated Social Media Security and Compliance group, Proofpoint has enhanced its compliance and security expertise, experience and opportunity to innovate. In turn, we expect to deliver an even stronger set of capabilities to our valued customers as well as our technology partners across the social marketing, selling and listening ecosystem."
The combined Proofpoint/Socialware offering is already in production in customer environments today. In the first quarter of 2016, Proofpoint anticipates new integration and functionality will be available; in particular, the ability to use more callable compliance for automated social content and communication scanning. The new functionality will feature the combination of Proofpoint's sophisticated policies and detection with Socialware's advanced workflow capabilities. Proofpoint believes this will represent the most robust social media compliance solution available in the market. In addition, expanded support for callable compliance integrations and APIs is expected to be available on the same timeline for existing and new Proofpoint partners such as Hootsuite, LinkedIn, Percolate and Salesforce.
Socialware customers will not only benefit from Proofpoint's ability to detect unauthorized social account and channel usage and to enforce workflow and policies from any location or device but also its fully-integrated, industry-leading archiving capabilities. Organizations with the combined offering can simultaneously protect social users and their social accounts from compromise, reducing their security liability dramatically.
Proofpoint currently expects the transaction to have no material impact on revenue, billings, and non-GAAP profitability for the fourth quarter of 2015 and full year 2016 as guided in its earnings release on October 21, 2015.
For more information on Proofpoint social media security and compliance solutions, please visit https://www.proofpoint.com/us/proofpoint-socialware
About Proofpoint, Inc.
Proofpoint Inc. (NASDAQ:PFPT) is a leading next-generation security and compliance company that provides cloud-based solutions for comprehensive threat protection, incident response, secure communications, social media and mobile security, compliance, archiving and governance. Organizations around the world depend on Proofpoint's expertise, patented technologies and on-demand delivery system. Proofpoint protects against phishing, malware and spam, while safeguarding privacy, encrypting sensitive information, and archiving and governing messages and critical enterprise information. More information is available at www.proofpoint.com.
Proofpoint is a registered trademark of Proofpoint, Inc. in the U.S. and/or other countries. All other trademarks contained herein are the property of their respective owners.
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding the impact of the Socialware acquisition, the timing of new product features in both the Proofpoint and Socialware products and the impact to customers of Proofpoint and Socialware both immediately and in the future. It is possible that future circumstances might differ from the assumptions on which such statements are based. Important factors that could cause results to differ materially from the statements herein include: unanticipated technical difficulties; uncertainties related to launches of new features in Proofpoint and Socialware products; general risks related to new target markets, new product introductions and innovation and market acceptance thereof; the ability to attract and retain key personnel; and changes in strategy; unforeseen delays in developing new technologies and the uncertain market acceptance of new products or features; technological changes that make Proofpoint's products and services less competitive; and the other risk factors set forth from time to time in our filings with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, and the other reports we file with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. All forward-looking statements herein reflect our opinions only as of the date of this release, and Proofpoint undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events.
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