Proofpoint agreed on October 15 to acquire Varonis in an all-cash deal valued at about $6.3 billion, bringing the companies’ cybersecurity businesses together as they target risks from artificial intelligence.
Under the agreement, Varonis shareholders would receive $49.75 per share, a price the companies said was 52% above Varonis’ June 22 closing price, before initial sale rumors. The transaction has been approved by Varonis’ board, but it is not yet complete and still requires shareholder and regulatory approvals. Proofpoint, owned by private-equity firm Thoma Bravo, focuses on protecting people and communications from cyberattacks, while Varonis specializes in locating sensitive data, tracking access to it and monitoring its use.
The companies say combining those capabilities could help organizations protect information from both human users and AI agents, which increasingly access and act on corporate data. They plan to build a unified platform for finding sensitive data, controlling who or what can access it, and preventing data loss. The companies expect the transaction to close in the first half of 2027, subject to required approvals and other customary conditions.
Until then, Proofpoint and Varonis will continue operating separately.