Thoma Bravo's Proofpoint in talks to buy cybersecurity firm Varonis, source says

Thoma Bravo-owned Proofpoint is reportedly in talks to acquire cybersecurity firm Varonis Systems, according to a source familiar with the situation. Varonis, valued at around $5 billion, saw its shares surge by over 10 percent following the news. The Miami-based Varonis provides services like data classification and behavior-tracking, employing more than 2,400 people in 14 offices worldwide.

Thoma Bravo, the private equity firm that acquired Proofpoint in 2021 for approximately $12.3 billion, did not comment on the matter. Proofpoint and Varonis have not yet responded to inquiries. Recent cybersecurity deals have slowed due to the perception of the industry being susceptible to disruption from rapid advancements in AI.