Israeli Cyber Firm Varonis Acquired for $6.3 Billion
Translated & summarized from Haaretz by baba
Cybersecurity company Proofpoint is acquiring Israeli firm Varonis for about $6.3 billion in cash. The deal price is 52% higher than Varonis's stock before sale rumors emerged in June. This valuation is still below its price before a 45% stock drop last year due to poor financial reports.
The story in 4 lines · by baba
- Proofpoint is acquiring Israeli cybersecurity firm Varonis for approximately $6.3 billion.
- The deal is an all-cash transaction.
- The purchase price is 52% higher than Varonis's stock price before sale rumors surfaced in June.
- The acquisition price is lower than Varonis's stock value before a 45% drop last year.
Proofpoint, a cybersecurity company, is acquiring the Israeli public cybersecurity firm Varonis in a cash deal valued at approximately $6.3 billion. The acquiring company, Proofpoint, is owned by the Thoma Bravo fund. The purchase price represents a 52% increase compared to Varonis's stock price prior to initial rumors of its sale in June. However, it remains lower than Varonis's stock value before disappointing financial reports approximately a year ago caused a 45% single-day drop in its share price.
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