Wombat Security - it was only a matter of time!

Proofpoint enters into definitive agreement to acquire Wombat Security Technologies for $225 million in cash.

I have always been a big fan of Joe Ferrara, CEO of  Wombat Security Technologies since making our first investment in the company in 2012.  The upcoming acquisition of Wombat by publicly-traded Proofpoint (NASDAQ:PFPT) achieves a long-hoped for goal of a local start-up growing revenues organically to the point of attracting an earnings-driven acquisition. Wombat's products evolved out of CMU-developed technology spearheaded by Dr. Norman Sadeh.

Mr. Ferrara has epitomized the leadership qualities one loves to see in a CEO.  He attracted great employees with a dynamic company culture.  He partnered with supportive investors and kept constituents aligned with the clear goal of growing shareholder value. He communicated regularly and often with his shareholders, and each subsequent funding round exemplified transparency and respect to the rights of prior investors.

Those of us lucky enough to have invested in Wombat have much to be grateful for from the relationship, but first and foremost, we owe a great deal of gratitude to Wombat's intrepid leader.  Thank you, Joe!