Fenwick & West represented Proofpoint, Inc. in the transaction.
Proofpoint, Inc. (NASDAQ: PFPT) is a leading next-generation cybersecurity and compliance company. With an integrated suite of cloud-based solutions, Proofpoint helps companies around the world stop targeted threats, safeguard their data, and make their users more resilient against cyber attacks.
Meta Networks is an innovator in zero trust network access (ZTNA). With Meta Networks’ Network-as-a-Service (Naas), enterprises can rapidly connect people, applications, clouds, data centers and offices, and secure them with a software-defined perimeter.
The purchase price for the transaction is approximately $111 million in cash and approximately $9 million in Proofpoint common stock and options. The Proofpoint common stock will be issued and a certain portion of the cash will be paid subject to satisfaction of certain employment terms.
With this acquisition, Proofpoint will strengthen its cloud-based architecture and people-centric security platform, enabling customers to better protect their people and the applications and data they access beyond the traditional perimeter.
Proofpoint intends to integrate Meta Networks’ ZTNA technology with its cloud access security broker (CASB) and web isolation product lines to offer customers a comprehensive cloud access and security platform. The acquisition of Meta Networks will add approximately 20 technical contributors to Proofpoint’s growing presence and team in Israel.
The Fenwick transaction team included corporate lawyers Kris Withow (Picture), Stephen Fisher, Adam Derry, Kyle Canchola, and Adar Carver; executive compensation and employee benefits lawyers Shawn Lampron, Laura McIntyre, and Ariel Gaknoki; intellectual property lawyer Christopher Joslyn; and tax attorneys William Skinner and Ora Grinberg.
Involved fees earner: Kyle Canchola – Fenwick & West LLP; Adar Carver – Fenwick & West LLP; Adam Derry – Fenwick & West LLP; Stephen Fisher – Fenwick & West LLP; Ariel Gaknoki – Fenwick & West LLP; Ora Grinberg – Fenwick & West LLP; Christopher Joslyn – Fenwick & West LLP; Shawn Lampron – Fenwick & West LLP; Laura McIntyre – Fenwick & West LLP; William Skinner – Fenwick & West LLP; Kris Withrow – Fenwick & West LLP;
Law Firms: Fenwick & West LLP;
Clients: Proofpoint, Inc.;