Proofpoint Acquires Return Path’s Email Fraud Protection Business Unit, Extending its Suite of Business Email Compromise (BEC) Solutions
Comprehensive end-to-end BEC detection, prevention and response solution extends threat identification beyond malware
Sunnyvale, Calif.—August 24, 2016 – Proofpoint, Inc., (NASDAQ: PFPT), a leading next-generation cybersecurity company, has acquired Return Path’s Email Fraud Protection (EFP) business unit. Return Path’s EFP business, which provides standards-based DMARC authentication and proprietary sender-analysis capabilities, will be integrated into Proofpoint’s suite of email protection solutions to further enhance its business email compromise (BEC) capabilities— providing the industry’s most comprehensive solution to combat the threats targeting today’s enterprises.
“Proofpoint is the first company to deliver comprehensive BEC prevention, detection and response capabilities that go beyond malware-only protection,” said Gary Steele, Proofpoint CEO. “Organizations are plagued by financial and data loss as security teams struggle with BEC emails delivered to vulnerable users. Existing solutions available on the market today lack the advanced functionality required to stop these campaigns. Proofpoint is the recognized leader in protecting enterprises and their users from email-borne advanced threats, and this acquisition enables us to extend that protection to customers and brands.”
“BEC is one of the greatest cyber threats facing enterprises today. Fighting it requires an entirely new approach. Return Path’s Email Fraud Protection solution has paved the way by offering unparalleled insight into phishing attacks targeting the enterprise and their customers,” said Matt Blumberg, co-founder and CEO, Return Path. “With our proprietary email threat data and technical expertise at its disposal, Proofpoint will now be fully equipped to offer the best end-to-end spear phishing solution on the market today. We are thrilled to partner with Proofpoint going forward and believe that the combined solution will be stronger for our Email Fraud Protection customers as well as a great home for the employees in our EFP division.”
According to the FBI, BEC messages have cost organizations an estimated $3.1B worldwide1 by tricking people into sending money or sensitive corporate data to cybercriminals. BEC threats and impostor emails may or may not contain malicious attachments or URLs, so they can evade security solutions that only identify malware. In fact, in the last month, eighty percent of a representative sample of Proofpoint customers experienced at least one BEC phishing attack attempt. Proofpoint’s integration of DMARC authentication with advanced security delivered at the email gateway is the industry’s most comprehensive approach to combat both malware and malware-free threats.
Proofpoint Email Protection will now feature EFP-powered DMARC authentication and proprietary sender analysis techniques, which will be available as a separate module to customers and delivered as a cloud service. New BEC campaign forensics will provide administrators with insight into attacker techniques and identify actors using spoofed domains to phish their customers and damage their brand. This enables administrators to quickly implement relevant security processes and policies without additional overhead.
Return Path’s EFP division is based in Broomfield, Colorado, where Proofpoint will open an office and employ all existing employees of the division. With this acquisition, there is no change to Proofpoint’s Q3 2016 and FY 2016 guidance, as provided on the earnings call on July 21, 2016.
For more information on Proofpoint Email Protection please visithttps://www.proofpoint.com/us/products/email-protection
About Proofpoint, Inc.
Proofpoint Inc. (NASDAQ:PFPT) is a leading next-generation security and compliance company that provides cloud-based solutions to protect the way people work today. Proofpoint solutions enable organizations to protect their users from advanced attacks delivered via email, social media and mobile apps, protect the information their users create from advanced attacks and compliance risks, and respond quickly when incidents occur. More information is available at www.proofpoint.com.
Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. All other trademarks contained herein are the property of their respective owners.
1: FBI. Business E-mail Compromise: The 3.1 Billion Dollar Scam. June 2016.
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding future product releases and features. 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: risks related to integrating the employees, customers and technologies of acquired businesses; assumption of unknown liabilities from acquisitions; ability to retain customers of acquired entities risks associated with successful implementation of multiple integrated software products and other product functionality; competition, particularly from larger companies with more resources than Proofpoint; risks related to new target markets, new product introductions and innovation and market acceptance thereof; the ability to attract and retain key personnel; potential changes in strategy; unforeseen delays in developing new technologies and the uncertain market acceptance of new products or features; 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 three months ended June 30, 2016, 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.