The cybersecurity vendor says the planned acquisition significantly expands its security capabilities for MSP partners and SMB customers.
Proofpoint announced Thursday it plans to acquire Hornetsecurity Group, a vendor specializing in security for Microsoft 365, in a deal that will significantly expand its capabilities for MSP partners and SMB customers.
The price tag for the acquisition is $1 billion, according to a report from CNBC, and sources close to the deal confirmed the figure.
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Based in London, Hornetsecurity works with more than 12,000 MSPs and other channel partners, and has crossed $160 million in annual recurring revenue (ARR) with growth up more than 20 percent year-over-year, Proofpoint said in a news release.
The planned addition of Hornetsecurity is focused on helping Proofpoint to “better serve the unique needs of MSPs and SMBs,” Proofpoint CEO Sumit Dhawan said in the release.
Hornetsecurity’s main offering is 365 Total Protection, which provides MSPs with a multi-tenant platform for delivery of “advanced” email security, backup and security awareness, as well as access and permission control and domain fraud protection, Proofpoint said in the release.
Proofpoint plans to position Hornetsecurity as the “central hub for all MSP and SMB customers” served by the vendor, according to the news release.
The acquisition deal is targeted for closing in the second half of the year, Proofpoint said. Hornetsecurity Founder and CEO Daniel Hofmann will continue to lead the unit within Proofpoint upon closure of the deal, the company said.
In Gartner’s first-ever Magic Quadrant for Email Security Platforms, released in December 2024, Hornetsecurity was ranked in the “niche players” quadrant. Proofpoint, meanwhile, had been ranked among the six “leaders” in the report.
The deal follows the March announcement of an expanded strategic partnership between Proofpoint and Microsoft, as well as the launch in April of Proofpoint’s new Prime Threat Protection platform.
The platform unifies a number of formerly separate capabilities for threat defense that include multistage attack protection and defense against multichannel attacks using the company’s Nexus AI technology, as well as impersonation protection and “risk-based” guidance and education for employees, the company said previously.
Proofpoint has been privately held since August 2021 when it was acquired by Thoma Bravo for $12.3 billion.
