The Clap
Private equity (PE) firm Thoma Bravo will acquire SailPoint (NYSE: SAIL), an identity management solution that helps organizations mitigate security risks, for $6.9 billion.
The deets
Thoma Bravo’s offer came in at a ~31% premium to SailPoint’s Friday closing price, sending its shares soaring 28%. The bid was approved by SailPoint’s board of directors but is pending shareholder approval. The deal is expected to close in H2-2022.
Why this matters
Thoma Bravo has been on a shopping spree. It recently took software company Anaplan private, after the PE giant acquired it for $10.7 billion, with the offer also coming in at a ~30% premium. SailPoint will also go private if the deal goes through.
The PE firm now has over 20 security-focused firms in its portfolio.
