Proofpoint, Sumo Logic Start November with Big Acquisitions
With its acquisition, Proofpoint will extend its data loss prevention (DLP) capabilities with endpoint joining email, cloud access security broker (CASB) and data-at-rest to form an enhanced enterprise DLP offering. The combination of ObserveIT’s endpoint agent technology and data risk analytics with Proofpoint’s information classification, threat detection and intelligence will give enterprises “unprecedented insights into user activity with their sensitive data, wherever it resides,” according to Proofpoint.
In addition, Proofpoint will invest in ObserveIT’s insider threat management solution, which allows security teams to detect, investigate and prevent potential insider threat incidents by delivering real-time alerts and insights into user activity in one solution.
Sumo Logic said its acquisition brings together its continuous intelligence platform, including its cloud security information and event management (SIEM) and security compliance solutions, with Jask‘s advanced security operations center (ASOC) offering to deliver a “leading cloud-native security intelligence solution built for today’s digital businesses that leverage modern applications, architectures and multicloud infrastructures.” Terms of the deal weren’t disclosed.
Mike Sapien, Ovum’s vice president and chief analyst of enterprise services, tells us these acquisitions are continuing the trend of security vendor consolidation.
“Customers are looking for fewer security vendors/tools and more integration with what they have,” he said. “Security tools are at a saturation point with customers now. So vendors have to integrate their offerings, including with third parties, and smaller vendors need to combine with larger vendors to survive. CISOs do not want another point solution security product that requires more testing, staff resources or task force to validate benefits. This is driving this vendor consolidation and large vendors to combine, integrate internal products and look for acquisitions to integrate.”
Also, Proofpoint’s move is about expanding services quickly to gain more share of wallet from their large base of customers, Sapien said.
Ryan Kalember, Proofpoint’s executive vice president of cybersecurity strategy, tells us the ObserveIT acquisition will be a successful formula for his company’s global channel partners as it extends its leadership in the cybersecurity market and, with ObserveIT, enhances its information protection capabilities to detect and mitigate data risks and insider threats across email, cloud and the endpoint.
“Our channel partners trust us to provide an unparalleled level of protection and insight to safeguard their customers’ most attacked employee, and data from advanced cyberattacks and compliance risks,” he said. “By combining Proofpoint’s CASB solution with ObserveIT’s innovative, cloud-based insider threat management solution, it is far simpler for enterprises to precisely control employee and contractor access and data flow to on-premises, cloud and consumer applications and resources.”
Mike McKee, ObserveIT’s CEO, tells us his company’s channel partners will benefit from this as Proofpoint “believes in our insider threat vision and the market opportunity.”
“Insider threat management is an emerging cybersecurity category with the potential to develop into a multibillion-dollar market segment,” he said. “We’ve been proactively shaping the category for years and have earned…