SailPoint, now a privately-held company, will be delisted from the New York Stock Exchange; Thoma Bravo will pay its shareholders $65.25 per share
Software investment firm Thoma Bravo has closed the previously announced $6.9bn acquisition of US-based enterprise identity security provider SailPoint Technologies in an all-cash transaction.
Following the closing of the deal, shareholders of SailPoint will be paid $65.25 per share by Thoma Bravo.
SailPoint, which is now a privately-held company, has ceased trading its common stock. It will be delisted from the New York Stock Exchange.
The deal, which was announced in April 2022, is expected to further help SailPoint to expand its global customer base and continue to provide identity security solutions to modern enterprises worldwide.
SailPoint CEO and founder Mark McClain said: “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.
“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.”
On closing the deal, SailPoint is expected to benefit from Thoma Bravo’s operating capabilities, capital support, as well as deep software expertise.
SailPoint has created an identity platform that integrates with existing systems and workflows to provide a unified view of all identities and their access. The completion of the transaction is said to help the company to drive innovation in identity security.
Thoma Bravo managing partner Seth Boro said: “SailPoint is at the forefront of the growing identity security market and is well-positioned to further capitalize 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.”
Earlier this month, Thoma Bravo entered into a definitive agreement with Ping Identity for a deal worth nearly $2.8bn.