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

Sept 2 : 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 per cent.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.