Identification knowledgeable SailPoint is making waves this week. The Texas-based firm has agreed to be acquired by personal fairness agency Thoma Bravo.
The all-cash deal, which values SailPoint at $6.9 million, will take the corporate personal. SailPoint debuted on the New York Inventory Alternate underneath the ticker SAIL in 2017. As a part of the transaction, SailPoint stockholders will obtain $65.25 per share, which represents a premium of 48% to the corporate’s 90-day volume-weighted common worth.
SailPoint cited a number of advantages of the brand new association. As a non-public agency, the corporate could have elevated flexibility and sources to supply identification safety options. Moreover, SailPoint can now faucet into Thoma Bravo’s working capabilities, capital assist, and software program experience. “The transaction will even permit us to pursue our long-term progress trajectory with better flexibility and effectiveness to assist our prospects, increase our markets, and speed up innovation in identification safety with the backing of a robust monetary accomplice with deep sector experience,” stated SailPoint Founder and CEO Mark McClain.
The deal comes at a time of elevated curiosity in cybersecurity. As a result of many staff are nonetheless working at dwelling after the pandemic, fraudulent attackers are benefiting from elevated safety vulnerabilities. Moreover, consultants have warned of potential cyber threats arising from the Russia-Ukraine struggle.
“SailPoint is ideally positioned to capitalize on the big and rising demand from fashionable enterprises for sturdy identification safety options that safe their enterprise and scale back threat,” stated Thoma Bravo Managing Associate Seth Boro. “Their market-leading identification safety platform offers the autonomous and clever strategy that the market requires right this moment, particularly amongst bigger enterprises and as hybrid working turns into extra frequent.”
The transaction is anticipated to shut within the second half of 2022.
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