Proofpoint, Inc. Acquires Abaca Technology Corporation
SUNNYVALE, Calif. – July 25, 2013 – Proofpoint, Inc., (NASDAQ: PFPT), a leading security-as-a-service provider, today announced that it has acquired Abaca™ Technology Corporation through a reverse triangular merger with a wholly-owned subsidiary of Proofpoint. Abaca is a Silicon Valley company known for its engineering strength, technical talent, and email filtering & protection algorithms.
Founded in 2005 by respected Silicon Valley entrepreneur and philanthropist Steve Kirsch and led by CEO Matthew Powell since 2012, Abaca is privately held and headquartered in San Jose. The company's innovative, real-time, in-memory threat scoring technologies complement Proofpoint's big-data driven analysis techniques which further extend Proofpoint's threat protection capabilities.
The Abaca acquisition brings to Proofpoint's existing protection team additional skilled technologists, such as Thomas Richard Lynam and David Fuchs.
"We are thrilled to be able to continue commercializing our work on a much larger scale at Proofpoint," Kirsch said. "We founded Abaca with the vision of protecting customers' messaging environments with unprecedented levels of accuracy. Now we are in the position to take it to the next level with Proofpoint."
Proofpoint's drive to deliver industry leading solutions and innovation in the advanced threat protection, messaging security, and security as a service space, led it to Abaca, whose cloud-based, multi-dimensional approach to threat detection is an excellent complement to Proofpoint's other advanced detection techniques.
"The Abaca team has deep expertise in email filtering and protection, and a passion for staying ahead of the threat curve," said Gary Steele, Proofpoint's CEO. "We're excited to have the team join us and accelerate their vision with Proofpoint's industry-leading experts. I am excited for the expanded team and its commitment to continuing innovation."
Proofpoint does not expect the transaction to have a material impact on revenue or non-GAAP profitability for fiscal 2013.
About Proofpoint, Inc.
Proofpoint Inc. (NASDAQ:PFPT) is a leading security-as-a-service provider that focuses on cloud-based solutions for threat protection, compliance, archiving & governance and secure communications. Organizations around the world depend on Proofpoint's expertise, patented technologies and on-demand delivery system to protect against phishing, malware and spam, safeguard privacy, encrypt sensitive information, and archive and govern messages and critical enterprise information. More information is available at www.proofpoint.com.
Proofpoint is a trademark of Proofpoint, Inc. in the U.S. and other countries. All other trademarks contained herein are the property of their respective owners.