Proofpoint, a Sunnyvale, California-based provider of cloud-based security and compliance solutions, announced that it has agreed to acquire Armorize Technologies, a maker of cloud-based anti-malware products for roughly $25 million in cash.
According to Proofpoint, Armorize’s cloud-based threat and malware detection technology and research team will be a great addition to Proofpoint’s Targeted Attack Protection offering.
Proofpoint (NASDAQ:PFPT), which went public in April 2012, currently maintains a market cap just over $1 billion.
As a small technology start-up with a nascent customer base, Armorize brings a wealth of talent and differentiated technology but a limited set of customers and revenues, Proofpoint said.
Proofpoint is an existing Armorize customer and uses its technology in its protection platform. Symantec also offers an anti-malvertising solution powered by Armorize, which gives customers the ability to inspect ads running on their websites for web malware.
“We’ve been leveraging key Armorize technology in our Targeted Attack Protection for almost a year, and the effectiveness has been phenomenal,” said Proofpoint CEO Gary Steele.
Founded by brothers Wayne and Matt Huang, Armorize offers threat protection technologies, including dynamic threat protection, anomaly detection and malware sandboxing, which the company leverages to detect advanced malware across multiple threat vectors including on compromised websites and in malvertising.
Based in Nankang Software Park, Taipei, Taiwan, Armorize says its staff includes more than 35 Certified Ethical Hackers which specialize in cloud-based threat intelligence, detection of zero-day attacks and unknown vulnerabilities, real-time dynamic threat protection and advanced malware detection research.
“Being part of the Proofpoint organization will definitely enable Armorize to further leverage our core technologies and research across a wider range of customers,” said Armorize CEO Wayne Huang.
The deal has been approved by Proofpoint’s Board of Directors and by Armorize shareholders and is expected to close in the third quarter of 2013.
