Israeli Cyber Firm Varonis to Be Acquired by Proofpoint for $6.3 Billion
Translated & summarized from N12 by baba
Israeli cybersecurity firm Varonis has agreed to be acquired by Proofpoint for approximately $6.3 billion in cash. The deal will take Varonis private and offers shareholders a significant premium. The company, which employs 1,000 people in Israel, specializes in protecting sensitive data using AI. The acquisition aims to merge Varonis's data security expertise with Proofpoint's solutions to serve over 16,000 global organizations.
The story in 5 lines · by baba
- Cybersecurity firm Varonis will be acquired by Proofpoint for $6.3 billion.
- The deal represents a significant premium for Varonis shareholders.
- Varonis employs approximately 1,000 people at its development center in Israel.
- The acquisition aims to enhance data security for organizations using AI.
- The combined company will 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 American investment fund Thoma Bravo, for approximately $6.3 billion in cash. The deal, upon completion, will result in the delisting of Varonis shares from the US stock exchange, transforming it into 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. This technology is crucial as more organizations grant AI tools and autonomous agents access to data and operational capabilities.
Under the terms of the agreement, Varonis shareholders will receive $49.75 in cash per share, representing a premium of about 52% over the share 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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