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Thoma Bravo to buy cybersecurity firm SailPoint for $6.9 billion

by Mike Robinson

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© Reuters. FILE PHOTO A banner for Sailpoint Technologies Holdings Inc. was displayed at the New York Stock Exchange’s front to commemorate the company’s IPO. It is dated November 17, 2017, in the United States. REUTERS/Brendan McDermid/File Photo

(Reuters) – Private equity firm Thoma Bravo has acquired cybersecurity company SailPoint Technologies, according to the Financial Times, citing sources familiar with the matter. The acquisition was reported by the Financial Times on Monday.

Thoma Bravo will pay $65.25 a share for SailPoint, according to the report https://www.ft.com/content/ac996df1-497c-42ae-a0a6-71a7595aab4a. This equity valuation is approximately $6.14 billion according to Reuters calculations.

SailPoint stock closed at 1.7% Friday

Thoma Bravo was not available for comment.

The shift from traditional office work to remotely working has led to a rise in cyberattacks as well as increased demand for security software companies.

Thoma Bravo, a cybersecurity company that was valued at $12.3 billion, announced it would purchase Proofpoint (NASDAQ:) Inc.

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