SailPoint Technologies to be Acquired by Thoma Bravo for $6.9 Billion
Apr 11, 2022 By MarketDepth
SailPoint Technologies Holdings, Inc. (NYSE: SAIL) today announced that it had entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction at a valuation at approximately $6.9 billion.
Up Over 29% Premarket
Shares SailPoint Technologies Holdings, Inc. (NYSE: SAIL) gained over 29% during the premarket trading session following the announcement.
“Identity security is core to cyber security and businesses have realized that to fuel business growth and success, they must start with identity as the foundation for secure business transformation. We’ve experienced rapid growth and see a tremendous opportunity ahead of us to continue to set the pace in the identity security market as the category leader.”Mark McClain, CEO and Founder, SailPoint
Upon completion of the transaction, SailPoint will become a privately held company and will benefit from the operating capabilities, capital support, and deep software expertise of Thoma Bravo.
SailPoint is the clear leader in providing trusted identity security to the most well-respected global brands. As digital transformation becomes imperative for enterprises of all sizes to remain competitive, SailPoint’s innovative products provide the foundation for a robust security infrastructure that keeps employees and sensitive information safe. We are excited to leverage Thoma Bravo’s deep software and operational capabilities to support SailPoint’s mission to be the de facto identity security platform player of choice.”Andrew Almeida, a Partner at Thoma Bravo