Categories: Technology

Thoma Bravo Completes All-cash Acquisition of SailPoint

(adsbygoogle = window.adsbygoogle || []).push({});

SailPoint Technologies Holdings, Inc, the leader in enterprise identity security,  announced the completion of its acquisition by Thoma Bravo, a leading software investment firm, in an all-cash transaction valued at approximately $6.9 billion.

The agreement to be acquired was previously announced on April 11, 2022 and approved by SailPoint stockholders at the Special Meeting of Stockholders held on June 30, 2022.

At completion of the acquisition, SailPoint stockholders are entitled to receive $65.25 in cash for each share of SailPoint common stock they owned. SailPoint’s common stock has ceased trading and will be delisted from the New York Stock Exchange.

Operational Support of Thoma Bravo

As a privately-held company, SailPoint can benefit from the strategic and operational support of Thoma Bravo, a highly experienced software investor. Through this transaction, SailPoint will be in a position to drive innovation in identity security, expand its global customer base, and continue providing industry-leading identity security solutions to modern enterprises around the world.

“The closing of this transaction is an important milestone and underscores the value of SailPoint as core to identity security, positioning us to be business essential for the most prominent, global enterprises today,” says Mark McClain, CEO and Founder of SailPoint.

“With Thoma Bravo’s resources and deep sector expertise, we see a tremendous opportunity to accelerate innovation across our product portfolio, as we earn the right to be the de facto enterprise identity platform of choice. Backed by Thoma Bravo’s strong belief in our growth potential, I look forward to embracing the tremendous opportunity in front of us as we embark on this next chapter for SailPoint.”

Identity Security arket

Seth Boro, a Managing Partner at Thoma Bravo says SailPoint is at the forefront of the growing identity security market and is well-positioned to further capitalise on the increasing demand from enterprises for innovative and trusted solutions.

“We are excited to partner with Mark and his talented team to bolster SailPoint’s leadership position and deliver increased value to the company’s growing customer base.”

Andrew Almeida, a Partner at Thoma Bravo says SailPoint’s intelligent identity platform equips customers to meet the demands of today’s cloud-oriented enterprises by putting identity security at the core of digital business operations.

“With each passing day, identity becomes a more and more important attack surface to secure. We are thrilled to partner with SailPoint during this exciting next chapter as it continues to drive growth within one of the best markets in all of cyber security.”

(adsbygoogle = window.adsbygoogle || []).push({});
(adsbygoogle = window.adsbygoogle || []).push({});

admin

Recent Posts

Anwar Is Fighting Rising Prices With Targeted Subsidies

Nevertheless, Anwar has said he plans to introduce a programme that will include targeted subsidies…

6 days ago

APEC: China’s Return To The Global Supply Chains

The question to ask is whether there are one too many free trade agreements around…

1 week ago

RCEP Came At A Good Time

After the upsets with the South China Sea disputes, we now have certain normalcy, which…

2 weeks ago

US Popularity In The Asean region

In Vietnam, the sentiments can be different because they see the Chinese encroachments in the…

2 weeks ago

New Views On Asean Plus Three and China

Asean plus three is still important for the Asean but with China's dominance, so to…

2 weeks ago

Egypt: Climate Action Can Strengthen Long-Term Growth

The report talks a lot about climate action and highlights the increasing unpredictability of the…

3 weeks ago