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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