Thoma Bravo to buy cybersecurity firm SailPoint for $6.9 billion – FT
2022.04.11 13:17
FILE PHOTO: A banner for Sailpoint Technologies Holdings Inc. is displayed on the front of the New York Stock Exchange (NYSE) to celebrate the company’s IPO in New York, U.S. November 17, 2017. REUTERS/Brendan McDermid/File Photo
(Reuters) – Private equity firm Thoma Bravo is acquiring cybersecurity firm SailPoint Technologies for $6.9 billion, the Financial Times reported on Monday, citing people familiar with the matter.
Thoma Bravo will pay $65.25 a share for SailPoint, according to the report https://www.ft.com/content/ac996df1-497c-42ae-a0a6-71a7595aab4a. This represents an equity value of about $6.14 billion, according to Reuters calculations.
SailPoint shares closed down 1.7% on Friday.
Thoma Bravo and SailPoint did not immediately respond to Reuters requests for comment.
A shift to remote working during the pandemic, as well as the Russia-Ukraine conflict, has fueled a spike in cyberattacks and bolstered demand for security software firms.
In April last year, Thoma Bravo said it would buy Proofpoint (NASDAQ:PFPT) Inc in an all-cash deal that valued the cybersecurity firm at about $12.3 billion.
