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MIAMI and SANTA CLARA, Calif. - Varonis Systems, Inc. (NASDAQ: VRNS) has announced a partnership with Pure Storage (NYSE: PSTG), a $13.6 billion market cap company with robust financials including a 70% gross profit margin, marking the first data security company to integrate natively with Pure Storage’s technology. This collaboration aims to enhance data security and cyber resilience for customers by combining Varonis’ AI-driven data protection capabilities with Pure Storage’s immutable snapshots for quick recovery post-cyber incidents.
Varonis’ platform will allow Pure Storage clients to automatically discover and classify sensitive information, reduce data exposure by right-sizing access, and utilize AI and machine learning to detect and respond to threats. The partnership is expected to bolster organizations’ abilities to safeguard critical data, identify potential threats, and rapidly recover from cyberattacks.
David Bass, EVP of Engineering and CTO at Varonis, emphasized the importance of securing data, particularly for AI applications. He expressed enthusiasm about the partnership, which is intended to enable secure AI innovation. Dan Kogan, VP of Enterprise Growth and Solutions at Pure Storage, highlighted the rising risks of ransomware and the critical need for data security and resilience.
Both companies have received industry recognition, with Pure Storage named a Leader in the 2024 Gartner Magic Quadrant for Primary Storage Platforms and Varonis acclaimed as a Leader and Customer Favorite in The Forrester Wave: Data Security Platforms, Q1 2025. Pure Storage has demonstrated strong business momentum with 11.9% revenue growth in the last twelve months. Dive deeper into Pure Storage’s performance metrics and growth potential with the comprehensive Pro Research Report, available exclusively on InvestingPro.
The partnership is poised to empower organizations to proactively secure their data, mitigate risks, and maintain operations without interruptions. This move reflects the companies’ commitment to providing advanced data security solutions to their customers, with Pure Storage maintaining strong financial health according to InvestingPro’s analysis, despite a recent 27% decline in stock price over the past six months.
The information for this article is based on a press release statement from Varonis Systems, Inc.
In other recent news, Pure Storage reported its financial results for the fourth quarter of fiscal year 2025, surpassing analysts’ expectations with an earnings per share of $0.45 and revenue of $879.8 million. Despite these positive results, the company’s stock experienced a decline in aftermarket trading. Pure Storage’s annual revenue for fiscal year 2025 grew by 12% to $3.2 billion, with subscription services revenue increasing by 17%. Additionally, UBS raised its price target for Pure Storage to $50, maintaining a Sell rating, while Piper Sandler reaffirmed its Overweight rating with a $76 price target, noting the company’s progress with major cloud service customers. Citi adjusted its price target to $77, maintaining a Buy rating, citing short-term margin volatility but expressing a positive long-term outlook. Pure Storage also announced the release of its FlashBlade//EXA platform, designed for AI and high-performance computing workloads, set to be available in the summer of 2025. These developments highlight Pure Storage’s ongoing efforts to expand its offerings and maintain a competitive position in the data storage market.
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