Thoma Bravo-backed Proofpoint Inc. is in discussions to acquire cybersecurity firm Varonis Systems Inc. Sources familiar with the matter report that talks are ongoing and no final decision has been reached.
Varonis shares surged over 10% following news of the potential deal. The stock jump brings the company's market capitalization to approximately $5.4 billion.
Thoma Bravo took Proofpoint private in 2021. The transaction was valued at $12.3 billion. This potential acquisition signals continued consolidation within the cybersecurity industry.