Proofpoint to Acquire Varonis for $6.3B

Thoma Bravo-backed Proofpoint has agreed to buy Varonis in an announced $6.3B all-cash transaction, reportedly at 8.4x trailing revenue and about 53x free cash flow, with closing expected in H1 2027. The deal underscores sponsor appetite and platform consolidation in data security; financing, integration rationale, and market response remain key follow-ups.