wombat security acquired

Learn about our threat operations center and read about the latest risks in our threat blog and reports. Protect against email, mobile, social and desktop threats. Today’s cyber attacks target people. Wombat Security Technologies (acquired by Proofpoint, Inc.) Wombat Security Technologies, Inc. is the first and only company to offer a complete suite of anti-phishing and cyber security awareness assessment and training products that leverage progressive training techniques of professional educators to effectively improve human response against cyber-attacks up to 70%. An industry-first combination of advanced threat protection capabilities with real-time phishing simulation and cybersecurity awareness and training. Proofpoint Inc. (NASDAQ:PFPT) is a leading next-generation security and compliance company that provides cloud-based solutions to protect the way people work today. Lorrie Cranor, Jason Hong, and Norman Sadeh, all faculty members at the CMU School of Computer Science. Become a channel partner. We define free cash flow as net cash provided by operating activities minus capital expenditures. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures as previously provided in the financial statement tables included in our press release dated February 6, 2018, and available on our investor relations website. The agreement is subject to customary … ''Carnegie Mellon consistently produces world leaders in cybersecurity, whose work protects all of us from cyber threats. ''Phishing and cybersecurity in general are more than technical problems; they are people problems. One podcast that we've glommed onto in the absence of WhyMe is the U.K.-based Indiepop Radio Podcast, a nice concise presentation of catchy numbers that has yet to disappoint us.It has also been the first outlet to expose us to a number of quality acts including The Wombats and, more recently, California Snow Story. March 01, 2018. Block attacks with a layered solution that protects you against every type of email fraud threat. ThreatSim has historically prepared the State of the Phish report; this year, it was a joint effort. A limitation of using free cash flow versus the GAAP measure of net cash provided by operating activities as a means for evaluating our company is that free cash flow does not represent the total increase or decrease in the cash balance from operations for the period because it excludes cash used for capital expenditures during the period. Wombat Security Technologies is a company born from research at the world-renowned Carnegie Mellon University (CMU). Learn about the technology and alliance partners in our Social Media Protection Partner program. In addition to Sadeh, Cranor and Hong, Alessandro Acquisti, professor of information technology and public policy, Anthony Tomasic, senior systems scientist in the Language Technologies Institute, and former PhD students Ponnurangam Kumaraguru, Steve Sheng, Justin Cranshaw, Patrick Gage Kelley, Ian Fette and Guang Xiang contributed to the initial CMU technology licensed by Wombat. Get deeper insight with on-call, personalized assistance from our expert team. You’ll learn how to: - Assess your … Reduce risk, control costs and improve data visibility to ensure compliance. For more information on Proofpoint Nexus, please visit https://www.proofpoint.com/us/technology-platform. Simplify social media compliance with pre-built content categories, policies and reports. Connect with us at events to learn how to protect your people and data from ever‑evolving threats. By collecting data from Wombat's PhishAlarm solution, Proofpoint will have access to data on phishing campaigns as seen by non- Proofpoint customers, … ''Because threat actors target employees as the weakest link, companies need to continuously … 1 Introduction & Overview Who Participated in the Survey? We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. Founded based on pioneering research into phishing attacks, Wombat is recognized by Gartner in the Leaders Quadrant of the Magic Quadrant for Security Awareness Computer-Based Training. ''This sale is a tribute to the faculty who created Wombat, as well as to the alumni who are key leaders at Proofpoint, and to all those who are helping to ensure CMU expertise benefits society more broadly.''. Wombat, which helps companies educate employees on the dangers of phishing attacks and how to avoid them, grew out of a research project at Carnegie Mellon University in 2008. ''It became obvious that cybersecurity threats weren’t limited to phishing,'' Sadeh said, and Wombat expanded its training modules to address issues related to a wide range of practices, including use of smartphones, USB drives, social networks and more. Our SaaS-based solutions and Continuous Training Methodology were developed by Wombat Security Technologies (acquired in March 2018) and born from research at the world-renowned Carnegie Mellon University. Celebrating the Life & Legacy of Dr. Martin Luther King, Jr. A Conversation with ProFellow Founder Vicki Johnson, The Allen Newell Award for Research Excellence, Center for Technology Transfer and Enterprise Creation, Observance of Martin Luther King, Jr. Day, CARNEGIE MELLON CHAMBER SERIES: Clarion Quartet Plays Weinberg, Profellow Workshop: How to Find and Compete for Competitive Fellowships. Security awareness firms have been the subject of significant funding and M&A transactions in recent months. Sunnyvale, Calif.—March 1, 2018 – Proofpoint, Inc., (NASDAQ: PFPT), a leading cybersecurity company, today announced it has completed its acquisition of Wombat Security Technologies, Inc., a leader for phishing simulation and security awareness computer-based training. All three are members of CMU’s CyLab Security and Privacy Institute. Wombat Security Technologies, a … * proofpoint enters into definitive agreement to acquire wombat security technologies for $225 million in cash; moves into phishing simulation and security awareness training market Phishing attacks trick people into divulging sensitive information, such as usernames and passwords, or into installing malware by sending them emails that appear to come from legitimate, trusted sources. Defend against cyber criminals accessing your sensitive data and trusted accounts. She is also a co-founder of Wombat Security Technologies, Inc, a security awareness training company that was acquired by Proofpoint. Wombat will integrate ThreatSim’s spear-phishing solutions and other capabilities with its existing security education portfolio, the companies said. In June 2008 the company was founded by Drs. Secure your remote users and the data and applications they use. In October 2015, Wombat Security acquired ThreatSim®, bringing together two of the leading simulated phishing attack tools. Sadeh co-founded the company with Lorrie Faith Cranor, FORE Systems Professor of computer science and engineering and public policy, and Jason Hong, associate professor of computer science. Developer of a security awareness and training software designed to help organizations teach their employees to secure behavior and strengthen organization security posture. We do not provide a reconciliation of the non-GAAP financial measures for the quarter ending March 31, 2018, and the full year 2018 herein to our comparable GAAP financial measures because we could not do so without unreasonable effort due to unavailability of information needed to calculate reconciling items and due to variability, complexity and limited visibility of the adjusting items that would be excluded from the non-GAAP financial measures for those periods. Keep up with the latest news and happenings in the ever‑evolving cybersecurity landscape. Block and resolve inbound threats across the entire email attack vector. Learn about the latest security threats and how to protect your people, data, and brand. In typical CMU fashion, Norman, Lorrie and Jason were able to solve the problem because they understood that people and technology are inextricably linked.''. Wombat Security Technologies has announced the acquisition of ThreatSim. By acquiring Wombat, the Sunnyvale, California-based company adds phishing simulation and security training to its suite of products. Learn about the human side of cybersecurity. It is possible that future circumstances might differ from the assumptions on which such statements are based. Billings. Wombat has long benefited from recruiting CMU alumni, Sadeh said – so much so that some investors worried in the early years about an overabundance of CMU-related employees. Advance your strategy to solve even more of today's ever‑evolving security challenges. Proofpoint is an enterprise security company based in Sunnyvale, California that provides software as a service and products for inbound email security, outbound data loss prevention, social media, mobile devices, digital risk, email encryption, electronic discovery ("eDiscovery"), and email archiving.It claims over half of the Fortune 100 as users of its solutions. Proofpoint Inc., a leading cybersecurity company, has completed its acquisition of a Carnegie Mellon University spinoff, Wombat Security Technologies Inc., for $225 million. University of California at Berkeley. Several key leaders of Wombat continue to boast CMU connections. We consider this non-GAAP financial measure to be a useful metric for management and investors for the same reasons that we use non-GAAP operating loss. In 2016 she served as Chief Technologist at the US Federal Trade Commission. “The acquisition of Wombat gives us greater ability to help protect our customers from today’s people-centric, social engineering-driven cyberattacks, and we are thrilled to welcome Wombat’s employees to the Proofpoint team.”. We may also calculate billings in a manner that is different from other companies that report similar financial measures. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the acquisition of property and equipment, can be used for strategic opportunities, including investing in our business, making strategic acquisitions, and strengthening the balance sheet. Wombat Security announced today that it is acquiring ThreatSim—a company that focuses on spear phishing prevention. Learn about our unique people-centric approach to protection. Proofpoint Inc., a leading cybersecurity company, has completed its acquisition of a Carnegie Mellon University spinoff, Wombat Security Technologies Inc., for $225 million. Protect from data loss by negligent, compromised, and malicious users. The founders’ approach – sending simulated phishing emails to employee inboxes – was a major departure from traditional training methods, but has since become the de facto industry standard. This press release contains forward-looking statements that involve risks and uncertainties. Other key products include machine learning technology to prioritize the processing of phishing emails reported by employees. Learn about our relationships with industry-leading firms to help protect your people, data and brand. Proofpoint recently acquired Wombat Security, a 4-year leader in the Gartner Magic Quadrant for Security Awareness Computer-Based Training, and we're excited to share what makes them the clear leader in the space. Proofpoint solutions enable organizations to protect their users from advanced attacks delivered via email, social media and mobile apps, protect the information their users create from advanced attacks and compliance risks, and respond quickly when incidents occur. '', Byron Spice | 412-268-9068 | bspice@cs.cmu.edu. Successful companies that have been assisted by AlphaLab include Wombat Security, Bossa Nova Robotics, JazzHR, ALung Technologies, CivicScience, Vivisimo (acquired by IBM), ModCloth (acquired … Cybersecurity firm Proofpoint on Tuesday announced that it has agreed to acquire Wombat Security Technologies for $255 million in cash. Billings include amounts that have not yet been recognized as revenue, but exclude additions to deferred revenue from acquisitions. Feb 7, 2018 | CYBERSCOOP Proofpoint has announced it has entered into an agreement to purchase Pittsburgh-based Wombat Security Technologies for $225 million in cash. Learn how upgrading to Proofpoint can help you keep pace with today's ever‑evolving threat landscape. A Pittsburgh-based security awareness and training software company was acquired for $225 million by a Silicon Valley cybersecurity company. He was also a co-founder of Wombat Security Technologies, which was acquired by Proofpoint in March 2018 for $225m. Wombat, founded 10 years ago by three CMU computer science professors to leverage innovative university research on preventing cyber attacks, is widely recognized as a leader in cybersecurity awareness training. Stand out and make a difference at one of the world's leading cybersecurity companies. © 2021. Protect your people and data in Microsoft 365 with unmatched security and compliance tools. The adjusted tax provision is then compared to the GAAP tax provision, and the difference is reflected as "income tax benefit (expense)" in the reconciliation between GAAP net loss/income and Non-GAAP net loss/income. Stay ahead of email threats with email security from the exclusive migration partner of Intel Security. You must have JavaScript enabled to use this form. Analysis of free cash flow facilitates management's comparisons of our operating results to competitors' operating results. ThreatSim has historically prepared the State of the Phish report; this year, it was a joint effort. They showed this approach was significantly more likely to get an employee’s attention and, with follow-up training, could drastically reduce susceptibility to these attacks. Safeguard business-critical information from data exfiltration, compliance risks and violations. The deal was announced by Proofpoint last month. Privacy Policy We compiled data from the millions of phishing attacks sent through Wombat Security was acquired by Proofpoint in March 2018. More information is available at www.proofpoint.com. We define non-GAAP net loss as net loss, adjusted to exclude stock-based compensation expense, amortization of intangibles, costs associated with acquisitions and litigation, non-cash interest expense related to the convertible debt discount and issuance costs for the convertible debt offering and tax effects associated with these items. Find the information you're looking for in our library of videos, data sheets, white papers and more. It is estimated that over 90% of cyber attacks today involve phishing emails. Engage your users and turn them into a strong line of defense against phishing and other cyber attacks. Proofpoint is a registered trademark or tradename of Proofpoint, Inc. in the U.S. and/or other countries. All other trademarks contained herein are the property of their respective owners. Connect with Proofpoint: Twitter | LinkedIn | Facebook | YouTube | Google+. Their mastery of both the technology and the human elements of computing make us all safer, as individuals, as organizations, and as a nation,'' said Farnam Jahanian, interim president of CMU. Compare verified reviews from the IT community of WeComply (Acquired by Thomson Reuters) vs Proofpoint (Wombat Security) in Security Awareness Computer-Based Training ''Wombat is a good example of why we at Carnegie Mellon talk about computer science primarily as problem solving, not programming,'' said Andrew Moore, dean of the School of Computer Science. ''We all recognized there was demand for solutions that we had developed at CMU,'' Sadeh added, ''and we’ve been gratified with the success the company has achieved. Our research at CMU has effectively created an entirely new segment in the cybersecurity industry, one that focuses on the human element,'' said Norman Sadeh, professor of computer science and chairman and chief scientist of Wombat. She has authored over 200 research papers on online privacy, usable security… Jason Hong is a professor in the Human Computer Interaction Institute, part of the School of Computer Science at Carnegie Mellon University. Learn about our global consulting and services partners that deliver fully managed and integrated solutions. Education. Read the latest press releases, news stories and media highlights about Proofpoint. The modules are interactive in nature and include quick quizzes centered around practical, everyday situations that help reinforce practical learning. ''You always have high expectations when you start a company, but there’s nothing more rewarding than to see results of your research having an impact on this scale. Wombat Security Technologies General Information Description. Marcel DePaolis, Proofpoint co-founder and CTO, earned a bachelor’s degree in electrical and computer engineering and biomedical engineering from the university, and David Knight, executive vice president and general manager of Proofpoint's Threat Systems Products Group, holds a master’s degree in industrial administration and a bachelor’s degree in information systems and industrial management from CMU. Management compensates for this limitation by providing information about our capital expenditures on the face of the cash flow statement and in the "Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources" section of our quarterly and annual reports filed with the SEC. ''Because threat actors target employees as the weakest link, companies need to continuously train employees and arm them with real-time threat data,'' said Gary Steele, CEO of Proofpoint in Sunnyvale, Calif. ''The acquisition of Wombat gives us greater ability to help protect our customers from today’s people-centric cyberattacks, as cybercriminals look for new ways to exploit the human factor.''. But as the company expanded – including offices in Denver and London – and after Joe Ferrara, a veteran tech executive, succeeded Sadeh as CEO in 2011, both the number and diversity of employees has grown. There are a number of limitations related to the use of billings versus revenue calculated in accordance with GAAP. These include Wombat chief architect Kurt Wescoe, an alumnus and former faculty member in the master’s program in e-Business, and Tom Sands, vice president of engineering and an alumnus of the Department of Electrical and Computer Engineering. Sunnyvale, Calif.—March 1, 2018 – Proofpoint, Inc., (NASDAQ: PFPT), a leading cybersecurity company, today announced it has completed its acquisition of Wombat Security … Wombat CEO Joe Ferrara and Chairman and Chief Scientist Norman Sadeh. We consider billings to be a useful metric for management and investors because billings drive deferred revenue, which is an important indicator of the health and visibility of our business, and has historically represented a majority of the quarterly revenue that we recognize. The adjusted tax provision reflects all of the relevant impacts of the adjustments, inclusive of those items that have an impact to the effective tax rate, current provision and deferred provision. Browse our webinar library to learn about the latest threats, trends and issues in cybersecurity. Secure your investments in Microsoft 365, Google G Suite, and other cloud applications. Choose business IT software and services with confidence. However, in order to provide a complete picture of our recurring core business operating results, we also exclude from non-GAAP net loss the tax effects associated with stock-based compensation and the amortization of intangibles and costs associated with acquisitions and litigation, and non-cash interest expense related to the convertible debt discount and issuance costs for the convertible debt offering. Non-GAAP net loss. Defend against threats, ensure business continuity, and implement email policies. Proofpoint, Inc., (NASDAQ:PFPT), a leading cybersecurity company, today announced it has completed its acquisition of Wombat Security Technologies, Inc. , a leader for phishing simulation and security awareness computer-based training. All rights reserved. Using them, customers have reduced successful phishing … View Proofpoint investor relations information, including press releases, financial results and events. Free cash flow. Earlier this month, security awareness training firm Wombat Security agreed to be acquired by Proofpoint for $225 million in cash. Founded based on pioneering research into phishing attacks, Wombat is recognized by Gartner in the Leaders Quadrant of the Magic Quadrant for Security Awareness Computer-Based … In October 2015, Wombat Security acquired ThreatSim ®, bringing together two of the leading simulated phishing attack tools. The deal was announced by Proofpoint last month. “As cybercriminals continue to look for new ways to exploit employees, companies need to be vigilant about changing end-user behavior and reducing risk with cybersecurity education solutions,” said Gary Steele, Proofpoint CEO. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors. Proofpoint, Inc., (NASDAQ: PFPT), a leading cybersecurity company, has entered into a definitive agreement to acquire Wombat Security Technologies, Inc. Uniquely with the combined solutions, organizations will be able to: Proofpoint expects the acquisition of Wombat Security to have the following impact to its financial outlook for the first quarter, and full year 2018, as previously provided on February 6, 2018: Additional commentary on Wombat’s contribution to Proofpoint’s 2018 financial outlook: Note that all of these guidance assumptions are in accordance with ASC 606, which Proofpoint adopted effective January 1, 2018, as were its original guidance metrics provided on February 6, 2018. Important factors that could cause results to differ materially from the statements herein include: risks related to integrating the employees, customers and technologies of the acquired business; assumption of unknown liabilities; ability to retain customers of Wombat; risks associated with successful implementation of multiple integrated software products and other product functionality; competition, particularly from larger companies with more resources than Proofpoint; risks related to new target markets, new product introductions and innovation and market acceptance thereof; the ability to attract and retain key personnel; potential changes in strategy; unforeseen delays in developing new technologies and the uncertain market acceptance of new products or features; global economic conditions; and the other risk factors set forth from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the twelve months ended December 31, 2017, and the other reports we file with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. Sunnyvale, Calif.—February 6, 2018 – Proofpoint, Inc., (NASDAQ: PFPT), a leading cybersecurity company, has entered into a definitive agreement to acquire Wombat Security Technologies, Inc. Adding to its cybersecurity offerings, Pittsburgh-based Wombat Security Technologies has acquired ThreatSim, a Reston, Va.-based provider of spear phishing attack testing. As a result of the varying impacts of each item, the effective tax rate for the adjusted tax provision will vary period over period as compared to the GAAP tax provision. Learn why organizations are moving to Proofpoint to protect their people and organization. The company, headquartered in Pittsburgh’s Strip District, initially focused on leveraging learning science principles to help organizations train their employees to recognize and avoid email ''phishing'' attacks. Management compensates for these limitations by providing specific information regarding GAAP revenue and evaluating billings together with revenues calculated in accordance with GAAP. Proofpoint Inc., a leading cybersecurity company, has completed its acquisition of a Carnegie Mellon University spinoff, Wombat Security Technologies Inc., for $225 million. Read how Proofpoint customers around the globe solve their most pressing cybersecurity challenges. His research is in the areas of usability, mobility, privacy, and security. Proofpoint is a leading cybersecurity company that protects organizations' greatest assets and biggest risks: their people. Proofpoint acquired Wombat Security in 2018 and has since rebranded the portfolio of security awareness capabilities A key differentiator is the ThreatSIM approach that aims to simulate … In order to provide a complete picture of our recurring core business operating results, we also compute the tax effect of the adjustments used in determining our non-GAAP results by calculating an adjusted tax provision which considers the current and deferred tax impact of the adjustments. These forward-looking statements include statements regarding the future financial impact of the acquisition, future financial results for Proofpoint and benefits of the acquisition and integration of Wombat’s products. We have provided in this release financial information that has not been prepared in accordance with GAAP. >> We noted the passing of the WhyMe podcast here last week. 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