U.S. private equity giant Thoma Bravo acquires SailPoint for $6.9 billion


Mark McClain, Co-founder and CEO of Sailpoint Technologies Holdings rings the opening bell to have fun his firm’s IPO on the New York Stock Exchange (NYSE) in New York, November 17, 2017.

Brendan McDermid | Reuters

U.S. private equity giant Thoma Bravo has acquired SailPoint in an all-cash deal price about $6.9 billion, the cybersecurity firm announced Monday.

Thoma Bravo’s deal to take the corporate private highlights the rising demand for enterprise safety software program. Several firms are nonetheless working remotely because of the pandemic, and the Russia-Ukraine struggle has additional sparked fears of cyberattacks.

Thoma Bravo can pay $65.25 per share in money, sending Sailpoint inventory hovering practically 30% within the morning.

SailPoint, based in 2005, gives software program for id and entry administration to assist organizations mitigate safety dangers. The firm went public in 2017.

SailPoint founder and CEO Mark McClain stated in a press release the transaction will permit the corporate to pursue its long-term progress trajectory with higher flexibility, develop its markets and speed up innovation within the sector.

It’s the most recent in a string of acquisitions for Thoma Bravo. It follows its $10.7 billion acquisition of Anaplan, an enterprise software program agency. Last yr, the corporate acquired cybersecurity agency Proofpoint for about $12.3 billion. The firm has 24 security-focused companies in its portfolio, together with SailPoint, according to the company’s website.

The SailPoint deal is anticipated to shut within the second half of 2022. SailPoint’s board has accepted the deal, however it’s nonetheless topic to the approval of shareholders and regulatory evaluate. Morgan Stanley is appearing as a monetary advisor.

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