Overview
- The two firms announced Thursday that Proofpoint has agreed to buy Varonis in an all-cash deal worth about $6.3 billion, with Varonis shareholders to receive $49.75 per share.
- Varonis’ board unanimously approved the agreement and the purchase price represents a roughly 52% premium to the stock’s pre-rumor closing price.
- Thoma Bravo is providing committed equity financing and secured debt commitments to fund the takeover, and Ontario Teachers’ Pension Plan is also investing in connection with the transaction.
- Until closing, the companies will operate independently; after the deal completes Varonis will become private and Proofpoint plans to integrate data mapping, access control and AI security into a single platform.
- The companies say the combined business will serve about 16,000 enterprises and millions of other organizations and is meant to help customers find, protect and govern sensitive data as AI creates faster external attacks and new insider agent risks.