Wombat Security team staying in Pittsburgh after $225M acquisition
A Pittsburgh cybersecurity firm will stay local and grow after it was purchased for $225 million.
Proofpoint, a Silicon Valley cybersecurity company, this week announced plans to buy Wombat Security Technologies.
Wombat's team in Pittsburgh will become Proofpoint employees and stay in the city, said Manish Sarin, executive vice president of planning and corporate development. Proofpoint plans to grow the team with new hires and investment.
“Pittsburgh has an excellent track record of providing exceptional talent to Wombat, and we plan to build on that success by establishing a Proofpoint Pittsburgh office,” Sarin told the Tribune-Review.
Wombat was founded in 2008 as a spin-off company from Carnegie Mellon University. The company grew and expanded to offices in Denver and London. There were rumors the company was heading toward an initial public offering about a year ago.
Proofpoint snatched up Wombat because of its work regarding phishing attacks and employee security training. The company's CEO, Gary Steele, said Wombat's technology will help Proofpoint better protect its customers from hackers and cybercriminals looking to exploit human weaknesses through email and other software.
“Because threat actors target employees as the weakest link, companies need to continuously train employees and arm them with real-time threat data,” Steele said in a statement.
Steele told analysts that Wombat's ties to CMU were also a plus.
Proofpoint hopes to begin integrating Wombat's technology into its products within the next few months.