Proofpoint in Talks to Buy Varonis
Thoma Bravo owned Proofpoint is reportedly in discussions to acquire cybersecurity firm Varonis Systems. Varonis shares rose following news of the potential multi billion dollar takeover deal.
Proofpoint, backed by Thoma Bravo, is in talks to acquire VARONIS SYSTEMS INC for an undisclosed sum, a person familiar with the matter said on Wednesday morning. Varonis holds a market value of about $5B following a 10% jump in its share price. The potential acquisition would combine two complementary cybersecurity businesses to expand corporate data protection.
Varonis employs over 2,400 people across 14 global offices, offering data classification on cloud storage and employee behavior tracking. Its shares previously jumped 30% in June after reports emerged that the firm was weighing a sale following private equity takeover interest. Thoma Bravo previously acquired Proofpoint in 2021 for $12.3B in a take-private deal.
