Proofpoint to acquire Varonis for $6.3 billion in cash — Channel NewsAsia

Proofpoint, owned by Thoma Bravo, will acquire data protection company Varonis Systems for approximately $6.3 billion. The deal provides for a cash payment, Channel NewsAsia reports.

Terms of the deal

Varonis shareholders will receive $49.75 in cash for each share. This is 52% higher than the company’s closing share price on June 22 — a day before the first speculation emerged about a possible sale of Varonis.

The companies announced the deal on October 15. In September, Reuters wrote that Proofpoint was in talks to acquire Varonis Systems.

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Companies’ operations

Varonis is based in Miami and provides cybersecurity services, including classifying data in cloud storage systems and tracking employee behavior. Its shares rose by about 2% in after-hours trading.

In 2021, Thoma Bravo agreed to acquire Proofpoint, which develops software to protect companies from cyberattacks. At the time, the deal to take Proofpoint private was valued at approximately $12.3 billion.