Proofpoint has signed a definitive agreement to acquire data security company Varonis in an all-cash deal with a transaction value of about $6.3 billion.
Varonis shareholders will receive $49.75 per share, a 52% premium to Varonis's closing price on June 22. The equity value of the deal is $5.71 billion.
Proofpoint is owned by private equity firm Thoma Bravo. The deal is expected to close in the first half of 2027.
The acquisition is aimed at strengthening protection of business data and digital systems, as data security becomes a larger commercial priority in the AI era.