Proofpoint acquisirà Varonis con un’operazione da 6,3 miliardi di dollari

Ottobre 15, 2026

Dall’unione nasce un nuovo punto di riferimento nella cybersecurity per offrire una piattaforma integrata capace di proteggere dalle minacce accelerate dall’AI e dai rischi legati ai dati

Milano, 16 ottobre 2026 – Varonis Systems, Inc. (Nasdaq: VRNS) («Varonis»), leader nella sicurezza dei dati e dell’intelligenza artificiale, e Proofpoint, Inc («Proofpoint»), realtà globale di riferimento nella cybersecurity per persone e agenti software, hanno annunciato di aver sottoscritto un accordo definitivo che prevede l’acquisizione di Varonis da parte di Proofpoint (società di portafoglio di Thoma Bravo) tramite una transazione interamente in contanti del valore di circa 6,3 miliardi di dollari.

In base ai termini concordati, gli azionisti di Varonis riceveranno 49,75 dollari in contanti per azione. Il prezzo d’acquisto incorpora un premio del 52% rispetto alla quotazione di chiusura del titolo Varonis registrata il 22 giugno 2026 (32,71 dollari), ultimo giorno di contrattazione prima delle prime indiscrezioni su una possibile vendita, e un premio del 17% rispetto alla chiusura del 1° settembre 2026 (42,35 dollari), data antecedente a ulteriori rumor di mercato. L’operazione attribuisce a Varonis un valore di circa 53 volte il flusso di cassa libero (Free Cash Flow) degli ultimi dodici mesi (LTM) e a 8,4 volte i ricavi LTM.[1]

La nuova realtà congiunta servirà oltre 16.000 grandi imprese e milioni di aziende nel mondo, posizionandosi tra i principali operatori pure-play del settore e costituendo la più grande organizzazione di sicurezza informatica dedicata a dati e AI. Obiettivo comune è fornire una piattaforma unificata che consenta alle aziende di adottare l’intelligenza artificiale in totale sicurezza, individuando e proteggendo i dati sensibili, regolando i permessi di accesso per utenti e agenti AI e prevenendo perdite di informazioni. A seguito della chiusura dell’operazione, Proofpoint intende integrare tempestivamente le rispettive tecnologie, armonizzare le strategie commerciali e accelerare la disponibilità della piattaforma congiunta per i clienti.

“Oggi si apre un nuovo capitolo entusiasmante per Varonis e per i suoi clienti, a testimonianza dello straordinario lavoro svolto dal nostro team in oltre vent’anni,” dichiara Yaki Faitelson, CEO, co-fondatore e Presidente del Consiglio di Amministrazione di Varonis. “La nostra missione è mettere in sicurezza l’AI e i dati che la alimentano: unendoci a Proofpoint potremo raggiungere questo traguardo molto più rapidamente.”

Faitelson aggiunge: “L’annuncio fa seguito a un’approfondita valutazione condotta da un comitato di consiglieri indipendenti del nostro consigli di amministrazione, che ha visto anche un dialogo esteso con diversi potenziali partner strategici e finanziari. Questa operazione rappresenta un eccellente risultato per l’azienda e per i soci, garantendo un valore immediato, certo e significativo, ampiamente superiore al valore corretto per il rischio ottenibile proseguendo con il nostro piano industriale autonomo.”

“Con che l’AI si radica nei contesti aziendali, i dati a cui ha accesso ne definiscono sia il valore che i rischi. Gli agenti AI accedono sempre più a dati critici e compiono operazioni attraverso numerosi sistemi, diventa quindi essenziale comprendere non solo cosa vada protetto e chi ne abbia i diritti d’accesso, ma anche come tali informazioni vengano concretamente impiegate,” spiega Sumit Dhawan, CEO di Proofpoint. “Collegando comunicazioni, identità, permessi, dati e intelligenza artificiale, creiamo un netto vantaggio informativo che aiuta le imprese a valutare i rischi con chiarezza, reagire con tempestività e neutralizzare le minacce dell’AI di nuova generazione. Si tratta di un passaggio decisivo nel percorso di Proofpoint verso una piattaforma di cybersecurity concepita per il futuro dell’AI.”

I dettagli dell’operazione

L’accordo, approvato all’unanimità dal board di Varonis, dovrebbe concludersi nella prima metà del 2027, subordinatamente alle consuete condizioni sospensive, tra cui il voto favorevole degli azionisti di Varonis e il via libera delle autorità antitrust e di vigilanza. Thoma Bravo ha sottoscritto impegni vincolanti per il finanziamento azionario (equity financing) e ha garantito linee di debito a supporto dell’operazione. Anche Ontario Teachers’ Pension Plan ha concordato un investimento in Proofpoint nell’ambito della transazione. Fino al closing, Proofpoint e Varonis continueranno a operare in maniera autonoma e distinta. A transazione ultimata, le azioni ordinarie di Varonis cesseranno le negoziazioni sul Nasdaq e la società tornerà a essere privata (delisting).

Risultati finanziari del terzo trimestre 2026

Varonis comunicherà i risultati finanziari del terzo trimestre 2026 il 3 novembre, a mercati statunitensi chiusi. La nota informativa sarà consultabile nella sezione Investor Relations del sito web societario. Alla luce dell’operazione concordata, non si terrà la consueta conference call di commento ai dati trimestrali.

Gli advisor dell’operazione

Per Varonis: Goldman Sachs & Co. LLC in qualità di consulente finanziario esclusivo; Paul Hastings LLP per l’assistenza legale.
Per Proofpoint: BofA Securities, Inc., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, UBS Securities LLC e Mizuho Securities USA LLC come advisor finanziari; Kirkland & Ellis LLP è lo studio legale incaricato.

Varonis
Varonis (Nasdaq: VRNS) protegge l’intelligenza artificiale e il patrimonio informativo su cui poggia. La sua piattaforma garantisce alle aziende visibilità e controllo automatizzati sui dati critici, ovunque essi risiedano, favorendo un’IA sicura e affidabile dal codice al runtime. Con il supporto di un servizio MDR (Managed Detection and Response) attivo 24/7/365, Varonis permette a migliaia di organizzazioni globali di implementare l’AI con serenità, abbattere la superficie di esposizione dei dati e fermare le minacce originate da sistemi intelligenti.

Proofpoint
Proofpoint, Inc. è leader mondiale nella cybersecurity incentrata su persone e agenti, che protegge il modo in cui individui, dati e agenti di intelligenza artificiale si connettono tramite email, cloud e strumenti di collaborazione. Proofpoint è un partner affidabile di oltre 80 aziende Fortune 100, oltre 14.000 grandi imprese e milioni di organizzazioni più piccole per bloccare le minacce, prevenire la perdita di dati e rafforzare la resilienza nei flussi di lavoro basati su persone e intelligenza artificiale. La piattaforma di collaborazione e sicurezza dei dati di Proofpoint aiuta organizzazioni di tutte le dimensioni a proteggere e abilitare i propri dipendenti, adottando al contempo l’intelligenza artificiale in modo sicuro e affidabile. Per ulteriori informazioni www.proofpoint.com.

Collegati con Proofpoint su LinkedIn.

[1] I multipli di transazione sono calcolati come Enterprise Value / Ricavi LTM (ultimi 12 mesi) e Capitalizzazione di mercato / Free Cash Flow LTM (ultimi 12 mesi) al 30 giugno 2026.

Forward-Looking Statements

This communication contains not only historical information, but also forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Varonis Systems, Inc.’s (the “Company”) expectations or beliefs concerning future events, including the timing of the proposed transactions contemplated by the Agreement and Plan of Merger, dated October 15, 2026 (the “Merger Agreement”), by and among the Company, Proofpoint, Inc. (“Parent”) and Vail Merger Sub, Inc. (“Merger Sub”) and other information relating to the proposed transactions contemplated by the Merger Agreement (the “Transaction”). Forward-looking statements include information concerning possible or assumed future results of operations of the Company, the expected completion and timing of the proposed Transaction and other information relating to the proposed Transaction. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” “intends,” “forecasts,” “should,” “estimates,” “contemplate,” “future,” “goal,” “potential,” “predict,” “project,” “projection,” “may,” “will,” “could,” “would,” “assuming” and similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond the Company’s control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in the forward-looking statements: (i) the risk that the Transaction may not be completed in a timely manner or at all, which may adversely affect the Company’s business and the price of the common stock of the Company, (ii) the failure to satisfy the conditions to the consummation of the Transaction, including the adoption of the Merger Agreement by the stockholders of the Company and the receipt of regulatory approvals from various governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (iv) the risk that the Merger Agreement may be terminated in circumstances that require the Company to pay a termination fee; (v) the effect of the announcement or pendency of the Transaction on the Company’s business relationships, operating results and business generally, including the Company’s ability to attract, integrate, develop, manage, retain and motivate qualified employees and senior leaders as a result of such effects, (vi) risks that the proposed Transaction disrupts current plans and operations, (vii) risks related to diverting management’s attention from the Company’s ongoing business operations, (viii) the outcome of any legal proceedings that may be instituted against the Company related to the Merger Agreement or the Transaction, (ix) unexpected costs, charges or expenses resulting from the proposed Transaction, (x) the ability to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the proposed Transaction; (xi) the impact of adverse macroeconomic or labor market conditions, including the impacts of inflation and effects of geopolitical instability, (xii) risks caused by delays in upturns or downturns being reflected in the Company’s financial position and results of operations, (xiii) uncertainty as to timing of completion of the proposed Transaction, and (xiv) other factors described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, the Company’s subsequent Quarterly Reports on Form 10-Q, and in other reports and filings with the SEC. Forward-looking statements speak only as of the date of this communication or the date of any document incorporated by reference in this document. The Company cautions you that the important factors referenced above may not contain all of the factors that are important to you. In addition, the Company cannot assure you that the Company will realize the results or developments expected or anticipated or, even if substantially realized, that they will result in the consequences or affect the Company or the Company’s operations in the way the Company expects. The forward-looking statements included in this communication are made only as of the date hereof. Except as required by applicable law or regulation, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

This press release includes LTM Free Cash Flow, a non-GAAP measure, which is calculated as net cash provided by operating activities less purchases of property and equipment and capitalized internal-use software, and is presented for the 12 months ended June 30, 2026. Please refer to “Reconciliation of GAAP Measures to non-GAAP Measures” set forth in Varonis’ earnings releases furnished to the SEC on Form 8-K for reconciliations of free cash flow to net cash provided by operating activities for the 12 months ended December 31, 2025 and the six months ended June 30, 2026.

Additional Information About the Acquisition and Where to Find It

This communication is being made in respect of the proposed Transaction involving the Company, Parent, and Merger Sub. The Company expects to seek and intends to file with the SEC a proxy statement and other relevant documents in connection with a special meeting of the Company’s stockholders for purposes of obtaining stockholder approval of the proposed Transaction. The Company may also file other relevant documents with the SEC regarding the proposed Transaction. This communication is not a substitute for the proxy statement or any other document that the Company may file with the SEC. The definitive proxy statement (when available) will be sent or given to the stockholders of the Company and will contain important information about the proposed Transaction and related matters. INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC BY THE COMPANY, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSED TRANSACTION. Investors will be able to obtain a free copy of the proxy statement and other documents containing important information about the Company and the proposed Transaction, once such documents are filed by the Company with the SEC at the SEC’s website at www.sec.gov or from the Company at its website at https://ir.varonis.com.

Participants in the Solicitation

The Company, and certain of its directors and executive officers, may be deemed to be participants in the solicitation of proxies in connection with the proposed Transaction. Information about the Company’s directors and executive officers is set forth in (i) the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, including under the headings “Item 10. Directors, Executive Officers and Corporate Governance”, “Item 11. Executive Compensation”, “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” and “Item 13. Certain Relationships and Related Transactions, and Director Independence”, which was filed with the SEC on February 4, 2026, (ii) the Company’s Definitive Proxy Statement for its 2026 annual meeting of stockholders, which was filed with the SEC on April 17, 2026, under the headings “Information Regarding the Board of Directors and Corporate Governance”, “Director Compensation”, “Executive Officers”, “Compensation Discussion and Analysis”, “Executive Compensation”, “Security Ownership of Certain Beneficial Owners and Management”, and “Transactions with Related Persons”, (iii) in the supplemental information regarding the participants’ holdings of Company securities that can be found in SEC filings on Statements of Change in Ownership on Form 4 filed with the SEC on June 2, 2026 (available here) for Dov Gottlieb; on May 22, 2026 (available here) for Guy Melamed; on May 1, 2026 (available here) for Carlos Aued; on May 1, 2026 (available here) for Kevin Comolli; on May 1, 2026 (available here) for John J. Gavin, Jr.; on May 1, 2026 (available here) for Gili Iohan; on May 1, 2026 (available here) for Avrohom J. Kess; on May 1, 2026 (available here) for Ohad Korkus; on May 1, 2026 (available here) for Thomas Mendoza; on May 1, 2026 (available here) for Rachel Prishkolnik; on May 1, 2026 (available here) for Ofer Segev; and on May 1, 2026 (available here) for Fred van den Bosch, (iv) the Company’s Current Reports on Form 8-K, which were filed on April 28, 2026, June 2, 2026 and July 28, 2026, (v) the Company’s Quarterly Reports on Form 10-Q which were filed on April 29, 2026 and July 29, 2026, and (vi) in subsequently filed Statements of Change in Ownership on Form 4, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. Other information regarding the participants in the solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be set forth in the Company’s definitive proxy statement and other relevant materials to be filed with the SEC regarding the proposed Transaction when such materials become available. Investors should read the proxy statement carefully when it becomes available. Copies of the documents filed with the SEC by the Company will be available free of charge through the website maintained by the SEC at sec.gov and the Company’s website at https://ir.varonis.com.

No Offer

No person has commenced soliciting proxies in connection with the proposed Transaction referenced in this communication, and this communication is neither an offer to purchase nor a solicitation of an offer to sell securities.