Proofpoint Acquires Socialware

The cybersecurity vendor has plans to further integrate Socialware’s compliance workflow and content capture capabilities with Proofpoint Social Media Security and Compliance.

(Image credit: Dollar Photo Club.) 

Proofpoint, Inc., a Sunnyvale, Calif.-based cybersecurity vendor, has acquired social media compliance solutions vendor Socialware (Austin, Texas) for approximately $9 million in cash. Proofpoint’s social media security solutions currently work together with Socialware’s offerings in customer environments. In the first quarter of 2016, Proofpoint plans to further integrate Socialware’s compliance workflow and content capture/review capabilities with Proofpoint Social Media Security and Compliance to create what the vendor vaunts as the broadest and deepest social media security and compliance solution available in the market.

Gary Steele, CEO, Proofpoint.

Gary Steele, CEO, Proofpoint.

“We continue to see a growing opportunity to solve the compliance and security challenges facing companies looking to use social media,” comments Gary Steele, CEO, Proofpoint. “With the Socialware team working as part of our dedicated Social Media Security and Compliance group, Proofpoint has enhanced its compliance and security expertise, experience and opportunity to innovate. In turn, we expect to deliver an even stronger set of capabilities to our valued customers as well as our technology partners across the social marketing, selling and listening ecosystem.”

(Related: Q&A: Guardian Life’s Successful Social Media Program for Distributors)

Already installed at several customers, the combined Proofpoint/Socialware will include new integration and funcationlity in the coming year, according to Proofpoint. That will include the ability to use more callable compliance for automated social content and communication scanning, according to the vendor. “The new functionality will feature the combination of Proofpoint’s sophisticated policies and detection with Socialware’s advanced workflow capabilities, a vendor statement says. Proofpoint says that expanded support for callable compliance integrations and APIs is expected to be available on the same timeline for existing and new Proofpoint partners such as Hootsuite, LinkedIn, Percolate and Salesforce.

Reduced Security Liability

Socialware customers will not only benefit from Proofpoint’s ability to detect unauthorized social account and channel usage and to enforce workflow and policies from any location or device but also its fully-integrated, industry-leading archiving capabilities, the vendor says. Organizations with the combined offering can simultaneously protect social users and their social accounts from compromise, reducing their security liability dramatically, Proofpoint claims.

Proofpoint currently expects the transaction to have no material impact on revenue, billings, and non-GAAP profitability for the fourth quarter of 2015 and full year 2016 as guided in its earnings release on October 21, 2015.

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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