US cybersecurity vendor Proofpoint has acquired data and AI-focused competitor Varonis Systems for $6.3 billion.
The deal, expected to close in the first half of 2027, will boost Proofpoint’s AI offering and combine the operations of the two companies into a business focused on data security, said CEO Sumit Dhawan.
He said: “We intend to deliver one of the industry's most comprehensive data and AI security solutions, from data posture and access to insider risk, DLP, and AI governance, setting a new industry standard for protecting sensitive information across the agentic workspace.”
The all-cash deal will be financed by VC firm Thoma Bravo, which acquired Proofpoint in 2021, and is connected to an investment by Ontario Teachers’ Pension Plan. It values Varonis 52% higher per share than its closing price on June 22, before the earliest sale discussions began.
