Seeking Alpha

Proofpoint acquires Sendmail for $23M

  • Proofpoint (PFPT -0.4%) acquires enterprise messaging/security provider Sendmail for $23M in cash. Proofpoint believes it can generate subscription revenue from the proprietary Sentrion package while continuing to support open source distribution of other Sendmail platforms.
  • The company expects the acquisition to have an immaterial impact on revenue in Q4 and widen net loss by $2M, or $0.06/share. For 2014, the company expects Sendmail to contribute $5M in revenue (half from legacy maintenance contracts and half from new sales of Proofpoint solutions to these customers) and a $3M increase in net loss, or $0.08/share, partially mitigated by accretion.
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