Thoma Bravo's Proofpoint in talks to buy cybersecurity firm Varonis, source says

Sept 2 (Reuters) - ‌Thoma Bravo-owned ​Proofpoint ​is in discussions to acquire cybersecurity firm ‌Varonis Systems, a source familiar with ⁠the matter told Reuters on ‌Wednesday.

Shares of Varonis, which ‌has a market value of about $5 billion, jumped over 10%.

Thoma ​Bravo declined a request for comment, while Proofpoint and ⁠Varonis did not immediately respond.

Miami-based Varonis offers ​cybersecurity services, including data classification and behavior-tracking, employing over 2,400 ​people across 14 ‌global offices.

Private equity firm Thoma Bravo in 2021 ⁠agreed to acquire Proofpoint and take it private, valuing the ⁠firm at about $12.3 billion.

Deals in the cybersecurity ​space have slowed of late, as the industry is among those perceived ‌as vulnerable to a shakeout by rapid advances ‌in AI.

(Reporting by Milana Vinn ⁠in New ‌York, Utkarsh ​Shetti and Anzar Mehraj in Bengaluru; Editing by Joyjeet ‌Das)

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