Cyber security company Varonis Systems (VRNS) is reportedly evaluating strategic options, including a potential sale, following expressions of interest in an acquisition.
According to a Bloomberg report citing sources familiar with the matter, Miami-based Varonis is working with advisors to manage the process in light of the preliminary interest it has received. Private equity firms interested in the company reportedly include Blackstone, Thoma Bravo, and Vista Equity Partners.
Following the news, Varonis shares surged. VRNS shares rose 14% to $37.42. Bloomberg’s report noted that the company’s shares had risen 9.6% during the day to reach $35.86, bringing Varonis’s market capitalization to approximately $4 billion.
Varonis operates in the fields of enterprise data security, cyber threat detection, and data access management. It is reported that discussions regarding a potential sale are still in the early stages and that no agreement has been finalized.
