Fenwick & West represented Proofpoint, Inc. in the transaction.
Proofpoint, Inc., (NASDAQ: PFPT) executed the acquisition of ObserveIT for $225 million.
With this acquisition, Proofpoint will extend its data loss prevention (DLP) capabilities with endpoint joining email, CASB, and data-at-rest to form an enhanced enterprise DLP offering.
The transaction is expected to close late in the fourth quarter of 2019, pending regulatory review.
Proofpoint, Inc. is a leader in people-centric cybersecurity. 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 cyberattacks.
ObserveIT is a leading insider threat management platform. The Company develops monitoring and auditing technology solutions, and markets to finance, telecommunications, manufacturing, healthcare, government, and IT services industries throughout the United States.
The Fenwick transaction team included corporate partner Kris Withrow (Picture), associates Priscila Bastazin and Elena Moreno Cloutier and law clerks Jennifer Wu and Jamal Johnson, intellectual property and technology transactions counsel Christopher Joslyn and associate Ana Razmazma, executive compensation and employee benefits partner Shawn Lampron, associates Marshall Mort, Sarah Ghulamhussain and Ariel Gaknoki, tax partner William Skinner and law clerk Einav Axler, and regulatory counsel Ashley Walter.
Involved fees earner: Priscila Bastazin – Fenwick & West LLP; Ariel Gaknoki – Fenwick & West LLP; Sarah Ghulamhussain – Fenwick & West LLP; Christopher Joslyn – Fenwick & West LLP; Shawn Lampron – Fenwick & West LLP; Elena Moreno Cloutier – Fenwick & West LLP; Marshall Mort – Fenwick & West LLP; Ana Razmazma – Fenwick & West LLP; William Skinner – Fenwick & West LLP; Ashley Walter – Fenwick & West LLP; Kris Withrow – Fenwick & West LLP;
Law Firms: Fenwick & West LLP;
Clients: Proofpoint, Inc.;