Proofpoint to Buy ObserveIT for $225 Million Cash, in Third Israeli Foray


California-based cybersecurity firm Proofpoint has made its third foray into Israel’s market, this morning agreeing to buy insider threat management provider ObserveIT for $225 million in cash as it ramps up its data loss prevention (DLP) offering.

The deal follows Proofpoint’s acquisition of cloud application access specialist FireLayers for $55 million in 2016 and Software-Defined Perimeter firm Meta Networks for $120 million in May 2019. Proofpoint expects the acquisition to close in Q4.

It plans to switch ObserveIT’s “perpetual licensing” model to a subscription-based model promptly after the transaction

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