U.S. private equity giant Thoma Bravo acquires SailPoint for $6.9 billion
U.S. private equity giant Thoma Bravo has acquired SailPoint in an all-cash deal worth about $6.9 billion, the cybersecurity company announced Monday. Thoma Bravo’s deal to take the company private highlights the growing demand for enterprise security software. Several companies are still operating remotely due to the pandemic, and the Russia-Ukraine war has further sparked fears of cyberattacks. Thoma Bravo will pay $65.25 per share in cash, sending Sailpoint stock soaring nearly 30% in the morning. SailPoint, founded in 2005, provides software for identity and access management to help organizations mitigate security risks. The company went public in 2017. SailPoint founder and CEO Mark McClain said in a statement the transaction will allow the company to pursue its long-term growth trajectory with greater flexibility, expand its markets and accelerate innovation in the sector.