While most attention goes to funding rounds of young cybersecurity companies, one of the year's biggest deals in the field involves a veteran company. Proofpoint, the email and data security company owned by Thoma Bravo, signed an agreement to buy Varonis for about $6.3 billion in cash. According to SecurityWeek, it is the largest cybersecurity acquisition announced so far in 2026.
The terms
Varonis shareholders will receive $49.75 per share in cash, a 52% premium over the share price on June 22, before sale rumors began. The deal values Varonis at about 8.4 times trailing 12-month revenue. Thoma Bravo is providing the equity, and Varonis's board approved the deal unanimously. Closing is expected in the first half of 2027, subject to shareholder and regulatory approval.
The Israeli company
Varonis was founded by Israeli entrepreneurs Yaki Faitelson and Ohad Korkus, and specializes in data security: it helps organizations understand where their sensitive data is, who accesses it and how to protect it. In an era when AI agents get access to huge amounts of corporate data, the field has become one of the hottest in cybersecurity. Alongside the agreement, Varonis also announced the purchase of AllTrue.ai for $150 million.
What it means
The deal joins a wave of large cybersecurity deals involving Israeli companies, from Wiz to XM Cyber. It also shows that private equity funds are willing to pay high premiums for public cybersecurity companies whose shares have lagged, when they believe data security for the AI era will be a huge market.
