Id 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 Trade below 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 can have elevated flexibility and assets to offer id safety options. Moreover, SailPoint can now faucet into Thoma Bravo’s working capabilities, capital help, and software program experience. “The transaction may also enable us to pursue our long-term development trajectory with better flexibility and effectiveness to help our clients, develop our markets, and speed up innovation in id safety with the backing of a robust monetary companion with deep sector experience,” mentioned 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 house after the pandemic, fraudulent attackers are making the most of elevated safety vulnerabilities. Moreover, consultants have warned of potential cyber threats arising from the Russia-Ukraine warfare.
“SailPoint is ideally positioned to capitalize on the massive and rising demand from fashionable enterprises for sturdy id safety options that safe their enterprise and cut back danger,” mentioned Thoma Bravo Managing Associate Seth Boro. “Their market-leading id safety platform supplies the autonomous and clever method that the market requires at the 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.
Picture by Kelly Sikkema on Unsplash