Proofpoint acquires Varonis Systems
Proofpoint, a Thoma Bravo portfolio company, agreed to take Varonis Systems private for $49.75 per share in an all-cash deal valued at about $6.3 billion. Source: SEC filing (Varonis)
Published October 22, 2026
In one week, October 15-21, 2026, Vest tracked 33 verified US M&A deals with more than $33.3 billion in disclosed value. The largest: Proofpoint's agreement to buy Varonis Systems for about $6.3 billion in cash. Kirkland & Ellis led the counsel scoreboard, appearing on 6 deals.
This edition's discussion on LinkedIn →Published, verified appearances across the 33 deals; buy-side and sell-side counted separately.
| Law firm | Deals | Clients this edition |
|---|---|---|
| Kirkland & Ellis | 6 | Proofpoint, CCC, Ares, Stockbridge, Forward Consumer Partners, netnumber |
| Simpson Thacher | 5 | GTCR, American Industrial Partners, KKR, Tradeweb, CBRE |
| Sidley Austin | 4 | Silgan MCC, Cencora, Fortune Brands, Savillex |
| Latham & Watkins | 3 | Trumid, JDH Capital, Morgan Stanley Capital Partners |
| Wachtell Lipton | 3 | Salesforce, International Seaways, Centrus Energy |
| 2 each | Covington & Burling; Gibson Dunn; Holland & Knight; Jones Day; McDermott Will & Schulte; Paul, Weiss; Polsinelli; Weil |
Not counted: Parker Poe as real estate counsel to Labcorp on the BioReference deal; Schjødt and Carey Olsen as local counsel to International Seaways; and firms listed without a stated role or only by trade press.
Of the 33 US M&A deals in this edition (October 15-21, 2026), 13 have at least one side's legal counsel not yet publicly announced.
Deals with neither a stated amount nor named counsel are not included. On 2 of the 13, neither side's counsel has been announced. The 12 largest deals with a disclosed value all named counsel on both sides. Of the previous edition's 13 deals with a side missing, 1 now has a named firm. Tracked weekly on this page.
Proofpoint, a Thoma Bravo portfolio company, agreed to take Varonis Systems private for $49.75 per share in an all-cash deal valued at about $6.3 billion. Source: SEC filing (Varonis)
A consortium led by GTCR and including Elliott Investment Management agreed to take CCC Intelligent Solutions private for $7.75 per share in cash, an enterprise value of about $6.1 billion. Source: SEC filing (CCC)
Salesforce agreed to acquire Braze for $47.50 per share in cash, about $5.66 billion in enterprise value. Source: SEC filing (Braze)
Silgan and funds affiliated with American Industrial Partners agreed to acquire Amsterdam-based Trivium Packaging in an all-cash deal at an enterprise value of about $3.4 billion, combining it with Silgan metal container businesses in a new company, Silgan MCC, owned 60% by Silgan and 40% by AIP. Source: SEC filing (Silgan)
Ares Infrastructure Equity and Ares Insurance Solutions funds agreed to acquire Infinity Transportation from KKR for an enterprise value of about $2.9 billion. Source: Ares
Cencora agreed to raise its stake in American Oncology Network to at least 75% in a deal that values AON at $2.3 billion at closing; contingent value rights of up to $100 million are not counted. Source: SEC filing (AON)
Tradeweb agreed to acquire Trumid for a purchase price of about $1.97 billion, paid mostly in cash. Source: SEC filing (Tradeweb)
Labcorp agreed to acquire select assets of OPKO Health's BioReference Health for $722 million in cash at closing; an earn-out of up to $150 million is not counted. Source: Labcorp
Maximus agreed to acquire Agile Defense for a cash purchase price of $660 million payable at closing; a possible earn-out is not counted. Source: SEC filing (Maximus)
TTM Technologies agreed to acquire MKS's Ophir Optics business, which has production facilities in Israel and Romania, for about $650 million in cash. Source: SEC filing (TTM)
CBRE agreed to acquire UK-based Onnec Group for an initial £460 million (about $610 million) in cash; an earn-out of up to £300 million is not counted. Source: SEC filing (CBRE)
Alcon acquired Neurotech Pharmaceuticals, based in Cumberland, Rhode Island, for $550 million; possible milestone payments are not counted. Source: Alcon (Business Wire)
EQT agreed to acquire Stockbridge, a US real estate investment manager, for base consideration of $375 million on a cash- and debt-free basis; an earn-out of up to $175 million is not counted. Source: EQT
New York-based International Seaways agreed to acquire Oslo-listed Bruton in a series of transactions, mostly in stock, that values Bruton at about $370 million. Source: SEC filing (International Seaways)
Labcorp agreed to acquire Myriad Genetics' Prenatal Health testing business for $210 million in cash, plus the value of its inventory at closing, which is not counted. Source: SEC filing (Myriad Genetics)
Fortune Brands agreed to sell its Fiberon composite decking business to a subsidiary of Inteplast Group for $160 million in cash. Source: SEC filing (Fortune Brands)
Smith & Wesson acquired Savage Arms from JDH Capital in a cash and stock deal that values Savage at $160 million. Source: SEC filing (Smith & Wesson)
Centrus Energy acquired Westerman Holdings for about $116 million in cash and equity. Source: SEC filing (Centrus Energy)
Dime Commercial Bancshares agreed to acquire ES Bancshares, the parent of Empire, in a cash and stock deal with a transaction value of about $58 million. Source: SEC filing (Dime)
Kapital, one of the largest B2B financial institutions in Latin America, agreed to acquire Woz, a Y Combinator-backed AI startup with a San Francisco-based team, in a $30 million cash-and-stock deal. Source: Kapital
Data I/O agreed to acquire V-TEK and A&J Programming for a total purchase price of about $23 million in cash and Data I/O stock. Source: SEC filing (Data I/O)
Bose acquired Skullcandy; financial terms were not disclosed. Source: Bose
Parkview Health, based in Fort Wayne, Indiana, signed an agreement to acquire Ovation Healthcare; no price was stated. Source: Parkview Health
Unilever agreed to sell its Welly Health business unit to Forward Consumer Partners; terms were not disclosed. Source: Unilever
Musixmatch acquired Los Angeles-based Music Reports from MidOcean; financial terms were not disclosed. Source: Ropes & Gray
Minneapolis-based Summus acquired Controls For Automation, headquartered in Taunton, Massachusetts; no price was stated. Source: Nutter
Savillex, based in Eden Prairie, Minnesota, completed its acquisition of Entegris's Life Sciences Fluid Management business; terms were not disclosed. Source: Savillex
Boston-based Her Campus Media acquired the Rebel Girls brand; no price was stated. Source: Her Campus Media
Intuit signed an agreement to acquire Sequence, a UK revenue management platform; financial terms were not disclosed. Source: Intuit
Hidden Harbor Capital Partners completed the sale of Paterson, New Jersey-based The Rapid Group to Morgan Stanley Capital Partners; terms were not disclosed. Source: Hidden Harbor
GHK Capital Partners completed its acquisition of USA Hometown Experts, headquartered in Memphis, Tennessee; terms were not disclosed. Source: GHK Capital Partners (Business Wire)
Transaction Network Services acquired Boston-based netnumber; financial terms were not disclosed. Source: TNS (Business Wire)
Silicon Valley-based Sakuu signed a business combination agreement with the blank-check company Pyrophyte Acquisition Corp. II; the implied $600 million pre-money equity value is not counted in the total. Source: Sakuu (Business Wire)
Boomi acquired Elementary Data, which CTech describes as an Israeli startup; the release states no price. Source: Boomi
The deal above is not in the 33-deal count: it states no amount and names no counsel. Two counted deals have an Israel link: Varonis, which CTech describes as Israeli-founded with about 1,000 people in Israel, and the Ophir Optics business TTM is buying, which has production facilities in Israel and Romania, with Israeli law firms on both sides.
Diligencing one of these targets? Vest verifies the target's equity from the data room, with every finding cited to source. See how it works.
This edition covers October 15-21, 2026. A deal counts if it has a US target or a US buyer, the buyer takes control, and the deal states an amount or names counsel for at least one side; 36 additional deals with neither a stated amount nor named counsel were left out. Also left out: a take-private by owners who already held most of the shares and had first made their proposal public in July, deals first announced before the week, deals where only the seller is American, minority stakes, a co-control investment, a business combination with no stated buyer, blank-check mergers with no stated US base, and real estate. Each date and value comes from the company's own release or SEC filing; a law firm's later announcement or a closing does not move a deal into the week. A firm is credited only where a release, the deal agreement or the firm's own page names it as counsel for one side. The $33.3 billion total adds the headline value each company states, using enterprise value where one is given, and leaves out earn-outs, contingent value rights, milestone payments, inventory adjustments and the blank-check deal's implied value.
Verified US M&A deals and the counsel scoreboard.
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