Proofpoint (PFPT) Acquires Return Path's Email Fraud Protection Unit
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Proofpoint, Inc., (NASDAQ: PFPT), a leading next-generation cybersecurity company, has acquired Return Path’s Email Fraud Protection (EFP) business unit. Return Path’s EFP business, which provides standards-based DMARC authentication and proprietary sender-analysis capabilities, will be integrated into Proofpoint’s suite of email protection solutions to further enhance its business email compromise (BEC) capabilities — providing the industry’s most comprehensive solution to combat the threats targeting today’s enterprises.
“Proofpoint is the first company to deliver comprehensive BEC prevention, detection and response capabilities that go beyond malware-only protection,” said Gary Steele, Proofpoint CEO. “Organizations are plagued by financial and data loss as security teams struggle with BEC emails delivered to vulnerable users. Existing solutions available on the market today lack the advanced functionality required to stop these campaigns. Proofpoint is the recognized leader in protecting enterprises and their users from email-borne advanced threats, and this acquisition enables us to extend that protection to customers and brands.”
“BEC is one of the greatest cyber threats facing enterprises today. Fighting it requires an entirely new approach. Return Path’s Email Fraud Protection solution has paved the way by offering unparalleled insight into phishing attacks targeting the enterprise and their customers,” said Matt Blumberg, co-founder and CEO, Return Path. “With our proprietary email threat data and technical expertise at its disposal, Proofpoint will now be fully equipped to offer the best end-to-end spear phishing solution on the market today. We are thrilled to partner with Proofpoint going forward and believe that the combined solution will be stronger for our Email Fraud Protection customers as well as a great home for the employees in our EFP division.”
According to the FBI, BEC messages have cost organizations an estimated $3.1B worldwide1 by tricking people into sending money or sensitive corporate data to cybercriminals. BEC threats and impostor emails may or may not contain malicious attachments or URLs, so they can evade security solutions that only identify malware. In fact, in the last month, eighty percent of a representative sample of Proofpoint customers experienced at least one BEC phishing attack attempt. Proofpoint’s integration of DMARC authentication with advanced security delivered at the email gateway is the industry’s most comprehensive approach to combat both malware and malware-free threats.
Proofpoint Email Protection will now feature EFP-powered DMARC authentication and proprietary sender analysis techniques, which will be available as a separate module to customers and delivered as a cloud service. New BEC campaign forensics will provide administrators with insight into attacker techniques and identify actors using spoofed domains to phish their customers and damage their brand. This enables administrators to quickly implement relevant security processes and policies without additional overhead.
Return Path’s EFP division is based in Broomfield, Colorado, where Proofpoint will open an office and employ all existing employees of the division. With this acquisition, there is no change to Proofpoint’s Q3 2016 and FY 2016 guidance, as provided on the earnings call on July 21, 2016.
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