Proofpoint to acquire Varonis in $6.3 billion all-cash transaction
Proofpoint, owned by Thoma Bravo, announced an all-cash purchase of Varonis Systems for about $6.3 billion, offering $49.75 per share.
Thoma Bravo-owned cybersecurity company Proofpoint disclosed an all-cash agreement to buy data-security provider Varonis Systems for an estimated $6.3 billion. Under the terms, Varonis shareholders will be paid $49.75 per share, representing a 52% premium compared with Varonis' closing price on June 22, the day before speculation about a sale began. Miami-based Varonis offers solutions for classifying data in cloud storage and tracking employee behavior.
Proofpoint, which also belongs to Thoma Bravo, focuses on software that defends firms against cyber threats. The news lifted Varonis stock about 2% in extended trading. This follows Thoma Bravo's 2021 acquisition of Proofpoint in a take-private deal valued at roughly $12.3 billion.
Why it matters
The acquisition consolidates two cybersecurity firms, potentially reshaping the market for data protection services.
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