Mark McClain, Co-founder and CEO of Sailpoint Applied sciences Holdings rings the hole bell to have a good time his corporate’s IPO on the New York Inventory Trade (NYSE) in New York, November 17, 2017.
Brendan McDermid | Reuters
U.S. non-public fairness massive Thoma Bravo has bought SailPoint in an all-cash deal price about $6.9 billion, the cybersecurity corporate introduced Monday.
Thoma Bravo’s deal to take the corporate non-public highlights the rising call for for undertaking safety device. A number of firms are nonetheless working remotely because of the pandemic, and the Russia-Ukraine warfare has additional sparked fears of cyberattacks.
Thoma Bravo can pay $65.25 in line with proportion in coins, sending Sailpoint inventory hovering just about 30% within the morning.
SailPoint, based in 2005, supplies device for identification and get admission to control to assist organizations mitigate safety dangers. The corporate went public in 2017.
SailPoint founder and CEO Mark McClain mentioned in a commentary the transaction will permit the corporate to pursue its long-term enlargement trajectory with higher flexibility, enlarge its markets and boost up innovation within the sector.
It is the most recent in a string of acquisitions for Thoma Bravo. It follows its $10.7 billion acquisition of Anaplan, an undertaking device company. Final yr, the corporate bought cybersecurity company Proofpoint for approximately $12.3 billion. The corporate has 24 security-focused corporations in its portfolio, together with SailPoint, in step with the corporate’s website online.
The SailPoint deal is predicted to near in the second one part of 2022. SailPoint’s board has licensed the deal, however it’s nonetheless matter to the approval of shareholders and regulatory evaluation. Morgan Stanley is appearing as a monetary consultant.
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