Proofpoint agrees to buy data security firm Varonis for about $6.3 billion in cash
It is the largest cybersecurity acquisition announced so far in 2026, and both companies are pitching it around securing AI agents and corporate data.
Proofpoint, which is owned by Thoma Bravo, agreed on Thursday to acquire data and AI security company Varonis in an all-cash deal valued at about $6.3 billion. SecurityWeek reports that it is the largest cybersecurity acquisition announced so far this year. Varonis shareholders will receive $49.75 per share. That is a 52 percent premium to the $32.71 closing price on June 22, 2026, the last full trading day before rumors of a sale emerged. Thoma Bravo is providing committed equity financing and has secured debt financing commitments. Ontario Teachers' Pension Plan is also investing in Proofpoint as part of the deal. The deal is expected to close in the first half of 2027. The two companies will operate independently until then, after which Varonis will become private. Varonis sells a SaaS platform that finds and classifies sensitive data, maps who can access it, and monitors how it is used. Its Atlas product covers AI systems that organizations build or use. Proofpoint built its business on blocking phishing and fraud aimed at employees. CyberScoop reports that Proofpoint CEO Sumit Dhawan said AI is changing security in two ways. Attackers use it to run faster campaigns, and companies are deploying AI agents with broad access to internal data.