Thoma Bravo, a private equity firm, has agreed to purchase identity and access management company Sailpoint in an all-cash deal worth $6.9bn.
According to Security Week, the purchase represents a continuation of Thoma Bravo’s deep push into the cybersecurity market following its earlier acquisitions of Proofpoint, Sophos, Barracuda Networks and Sonicwall.
SailPoint automates the management and control of access, delivering only the required access to the right identities and technology resources at the right time. The firm’s identity platform integrates with existing systems and workflows, providing the singular view into all identities and their access.
Following the closing of the deal, Thoma Bravo claims Sailpoint will become a privately held company providing identity security technology to enterprise customers worldwide.
Mark McClain – founder and CEO of Sailpoint – said that the transaction will deliver ‘significant immediate cash value to our stockholders’ and will allow the firm to pursue long-term growth with the backing of a strong financial partner.
He added, “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.”
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