Huge exit: The Israeli company sold for $6.3b.
Cybersecurity company Proofpoint will acquire Israeli information security firm Varonis Systems in a massive deal.
Cybersecurity firm Proofpoint is set to purchase Israeli information security company Varonis Systems in a $6.3 billion cash transaction. Varonis shareholders will receive $49.75 per share for their stake, representing a 52% premium above the stock's closing price on June 22. The deal is anticipated to conclude during the first half of 2027.
Proofpoint, which develops software to protect companies from cyberattacks, was acquired by Thoma Bravo in 2021 for about $12.3 billion. Investment banks Goldman Sachs, BofA Securities, Morgan Stanley, J.P. Morgan, UBS, and Mizuho Securities USA have advised on the transaction.
Varonis, founded in 2005 by Yaki Faitelson and Ohad Korkus, is headquartered in Miami and has its research and development center in Herzliya. The company provides advanced digital security services, including data classification in cloud storage systems and monitoring employee behavior. Its mission is to secure artificial intelligence and the data that powers it.
Faitelson, Varonis' CEO and co-founder, stated that the acquisition will enable the companies to achieve their goal faster. Initial reports of the deal emerged several months ago when Reuters reported advanced talks between Proofpoint and Varonis in September. Prior to that, in June, Varonis had been exploring a potential sale following interest from private equity firms, causing a 30% increase in the company's stock at the time.
Written by urgent.news from Jerusalem Post Tech & Start-Ups's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
