Varonis stock surges on report of Proofpoint acquisition talks

Investing.com -- Varonis Systems (NASDAQ: VRNS) shares jumped 13% Wednesday afternoon following a Bloomberg report that Proofpoint is in talks to acquire the cybersecurity company.

According to the report, Proofpoint, which is backed by private equity firm Thoma Bravo, is in discussions to acquire Varonis. People familiar with the matter said a transaction could be announced in the coming weeks, though no final decision has been made and talks could still fall apart or another bidder could emerge.

Before the report surfaced, Varonis a market value of approximately $4.7 billion.

Representatives for Thoma Bravo, Proofpoint and Varonis did not immediately respond to requests for comment, according to the Bloomberg report.

Varonis provides cybersecurity solutions that help companies monitor and control access to sensitive information across cloud systems.

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