© Reuters. FILE PHOTO: A banner for Sailpoint Applied sciences Holdings Inc. is displayed on the entrance of the New York Inventory Trade (NYSE) to rejoice the corporate’s IPO in New York, U.S. November 17, 2017. REUTERS/Brendan McDermid/File Picture
(Reuters) -Personal fairness agency Thoma Bravo will purchase SailPoint Applied sciences for $6.12 billion, in a deal that underscores a heightened demand for safety software program as companies proceed to digitize their operations.
A pandemic-led shift to distant working, in addition to the Russia-Ukraine battle, has fueled a spike in cyberattacks and bolstered demand for safety software program companies.
SailPoint shareholders will obtain $65.25 per share in money, the cybersecurity agency mentioned on Monday, which represents a premium of 31.6% as of Friday shut. The enterprise worth of the deal is about $6.9 billion.
Shares of Austin-Texas primarily based SailPoint have been up 26% premarket. They misplaced about 9.2% in 2021.
SailPoint founder and Chief Government Officer Mark McClain mentioned the deal, anticipated to shut within the second half of this 12 months, would permit them to pursue long-term development trajectory with higher flexibility, develop their markets, and speed up innovation in id safety.
SailPoint focuses on software program associated to id and entry administration, that helps companies mitigate undesirable person entry and scale back the danger of delicate information leakage.
Thoma Bravo, which manages greater than $103 billion in property, is basically targeted on software program and know-how corporations. It has been doubling down on its investments within the sector.
Final 12 months, it purchased Proofpoint (NASDAQ:) Inc in an all-cash deal that valued the cybersecurity agency at about $12.3 billion.. It agreed to purchase software program maker Anaplan (NYSE:) Inc for $9.65 billion in March.
