Proofpoint and Varonis announced a definitive agreement on Oct 15 for Proofpoint to acquire Varonis in an all-cash deal valued at about $6.3 billion ($49.75 per share). The companies frame the combo as a data + human/agent security platform for AI-era risks (permissions, DLP, agent access). Varonis board unanimously approved; closing expected first half of 2027 subject to shareholder and regulatory approvals. Until close they operate separately; afterward VRNS leaves Nasdaq. Ontario Teachers' Pension Plan is investing into Proofpoint alongside Thoma Bravo financing. Industry signal: PE-backed platform consolidation around "data and AI security" messaging.