By: Francesca M. Schiavone, Esq.
Cybersecurity industry leader, Proofpoint, announced on February 6, 2018, that it will acquire Pittsburgh-based firm, Wombat Security Technologies, Inc. (“Wombat”), for $225 million. Wombat, which was founded by Carnegie Mellon University faculty members in 2008, offers awareness training and email filtering solutions aimed to protect companies against phishing attempts. The Silicon Valley-based company’s acquisition of Wombat will expand its current platform, allowing its customers to better assess cybersecurity vulnerability among employees. Proofpoint expects the transaction to boost its 2018 revenue by up to $32 million. Upon closing, which is set to take place by April 2018, Wombat will join the ranks of at least twenty other direct startups of CMU’s Center for Technology Transfer and Enterprise Creation (CTTEC) to be acquired in the past several years.