Israeli Cyber Firm Varonis to Be Acquired by Proofpoint for $6.3 Billion
Translated & summarized from Mako by baba
Israeli cybersecurity firm Varonis has agreed to be acquired by Proofpoint for approximately $6.3 billion in cash. The deal will take the company private and offers shareholders a significant premium. Varonis, which employs about 1,000 people in Israel, specializes in protecting sensitive data using AI. The acquisition is expected to bolster the combined entity's ability to serve over 16,000 global organizations.
The story in 5 lines · by baba
- Cybersecurity firm Varonis will be acquired by Proofpoint for approximately $6.3 billion.
- The acquisition offers Varonis shareholders a premium of about 52% per share.
- Varonis employs around 1,000 workers in Israel, where its development center is located.
- The deal will transition Varonis from a publicly traded company to a private entity.
- The combined company is expected to serve over 16,000 large organizations globally.
Israeli cybersecurity company Varonis announced Thursday it has signed a binding agreement to be acquired by Proofpoint, a company backed by the private equity firm Thoma Bravo, for approximately $6.3 billion in cash. The deal, upon completion, will result in Varonis's delisting from the US stock exchange and its transition to a private company.
Varonis, founded in 2004, specializes in protecting sensitive organizational data. The company has developed systems that use artificial intelligence to identify sensitive information, monitor access to it, and prevent unauthorized exposure. These capabilities are increasingly crucial as more organizations grant AI tools and autonomous agents access to data.
Under the terms of the agreement, Varonis shareholders will receive $49.75 in cash per share, representing a premium of about 52% over the stock's price in June, before reports of a potential sale emerged. Varonis currently employs approximately 2,800 people globally, with about 1,000 based in Israel, where its development center is located. No immediate changes to the workforce have been announced.
The acquisition aims to integrate Varonis's data security capabilities with Proofpoint's protection solutions. The combined entity is expected to serve over 16,000 large organizations worldwide, enhancing defenses against growing threats to AI systems and sensitive data.
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