Thoma Bravo software sprees continues with $6.9bn SailPoint deal

Not one month after its $10.7bn acquisition of SaaS tool Anaplan, US software investment firm Thoma Bravo has entered into a definitive agreement to acquire SailPoint. The all-cash transaction values the enterprise identity security brand at approximately $6.9bn.

Upon completion of the transaction, SailPoint will become a privately held company. The transaction is expected to close in the second half of 2022 and includes a ‘go-shop’ period lasting until May 16.

Thoma Bravo has history with SailPoint, having first bought into the Austin, Texas headquartered company in 2014 and taking it public in 2017. By the end of the following year, the Chicago headquartered firm sold its majority stake, acquired in a transaction reportedly valued by the Wall Street Journal at “several hundred million dollars.”

Mark McClain, CEO and founder of SailPoint, said: “This transaction delivers significant immediate cash value to our stockholders and maximizes the value of their shares. The transaction will also allow us to pursue our long-term growth trajectory with greater flexibility and effectiveness to support our customers, expand our markets, and accelerate innovation in identity security with the backing of a strong financial partner with deep sector expertise. Thoma Bravo’s belief in our vision for identity security aligns strongly with our desire to accelerate and extend our leadership for years to come.”

Seth Boro, a managing partner at Thoma Bravo, said: “SailPoint is ideally positioned to capitalize on the large and growing demand from modern enterprises for robust identity security solutions that secure their business and reduce risk.”

“Their market-leading identity security platform provides the autonomous and intelligent approach that the market requires today, especially among larger enterprises and as hybrid working becomes more common. We look forward to partnering with Mark and his talented team to drive SailPoint’s next chapter of growth.”

Thoma Bravo’s operational and financial resources combined with SailPoint’s focus on driving consistent innovation that delivers sustained customer success will set SailPoint on a path for sustained long-term growth.

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