Proofpoint Acquires Hornetsecurity for $1 Billion
By Netvora Tech News
Cybersecurity firm Proofpoint is set to acquire its German counterpart Hornetsecurity for $1 billion. According to Proofpoint, the takeover will enable the company to deliver security solutions to small and medium-sized businesses (SMBs) through managed service providers.
Hornetsecurity's Expertise
Hornetsecurity specializes in providing security solutions to businesses that use Microsoft 365, including backup, archiving, and management services.
"With Microsoft 365 at the heart of business operations, it has also become a key target for attackers," Proofpoint notes.
A Strategic Partnership
Proofpoint announced a partnership with Microsoft in March, and the acquisition is expected to be completed in the second half of this year. The company plans to offer Hornetsecurity's solutions to its customers.
The Deal
Although the company hasn't disclosed the acquisition price, CNBC reports that the deal is valued at $1 billion.
- Proofpoint will deliver security solutions to SMBs through managed service providers.
- Hornetsecurity specializes in providing security solutions to businesses that use Microsoft 365.
- Proofpoint announced a partnership with Microsoft in March.
- The acquisition is expected to be completed in the second half of this year.
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