Proofpoint agrees to buy Varonis for $6.3B in cash

Thoma Bravo-owned Proofpoint agreed to acquire data security company Varonis Systems for about $6.3 billion in cash, or $49.75 a share. That works out to a 52% premium to Varonis' price before reports of takeover interest surfaced in June. It is the largest of Proofpoint's acquisitions since Thoma Bravo took it private for $12.3 billion in 2021.

Why it matters: The deal folds Varonis' data mapping and access controls into Proofpoint's email and data loss prevention platform as AI agents raise the stakes on who can reach sensitive corporate data.