Proofpoint Plans $6.3 Billion Varonis Acquisition

Proofpoint agreed to acquire Varonis Systems in an all-cash deal valued at about $6.3 billion, combining Varonis’ data-security capabilities with Proofpoint’s cybersecurity business. Varonis shareholders would receive $49.75 per share, and the company’s board unanimously approved the agreement. Varonis shares rose after hours following the announcement; the agreement also provides for a $211.7 million termination fee under specified circumstances, including if Varonis ends the deal to accept a superior proposal.