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Proofpoint closes acquisition of Wombat Security Technologies

Proofpoint Inc. has completed its acquisition of Wombat Security Technologies Inc.

Proofpoint said that through the acquisition, its customers will gain access to phishing campaigns as seen by non-Proofpoint customers, providing broader visibility and insight to its technology platform.

The company expects the purchase of Wombat Security Technologies to increase its revenue range in the first quarter to $151 million to $153 million, from $149 million to $151 million. Non-GAAP net income, however, is now projected to be approximately $7.5 million to $8.5 million, versus prior estimates of $8 million to $9 million.

Free cash flow is still expected to be $22 million to $24 million.

For full year 2018, the estimated revenue range has increased to $691 million to $696 million, from $660 million to $665 million, but non-GAAP net income is now expected to be between $46 million and $50 million, compared to prior expectations of $52 million to $56 million.

Proofpoint expects free cash flow to increase to approximately $140 million to $142 million, from the previous range of $138 million to $140 million.