Thoma Bravo-backed Proofpoint in talks to acquire Varonis
Thoma Bravo-owned Proofpoint is in discussions to acquire cybersecurity software provider Varonis Systems, according to a report by Reuters citing an unnamed person familiar with the matter.
Thoma Bravo-owned cybersecurity firm Proofpoint is reportedly in talks to acquire Varonis Systems, a cybersecurity software provider valued at approximately $5 billion. The potential acquisition, which has been confirmed by Reuters citing an unnamed source, saw Varonis shares surge more than 10% following the news.
According to Varonis, its platform offers cybersecurity software aimed at safeguarding and managing corporate data. The company's tools encompass data classification in cloud environments and monitoring of employee activities. With a workforce of over 2,400 employees spread across 14 offices globally, Varonis has established itself as a key player in the cybersecurity industry.
The potential deal comes in the wake of reports from June indicating that Varonis was considering strategic alternatives after attracting interest from private equity firms. Varonis' share price had risen by around 30% following these reports.
For Thoma Bravo, merging Proofpoint and Varonis would combine two businesses with complementary data security capabilities. Proofpoint offers software designed to protect organizations from cyber threats, while Varonis specializes in identifying, securing, and governing sensitive data. By integrating the platforms, customers would gain a more comprehensive suite of tools for protecting corporate information and controlling access to it.
Thoma Bravo acquired Proofpoint privately in 2021, valuing the company at around $12.3 billion.
Written by urgent.news from Private Equity Wire's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.