Thoma Bravo to buy cybersecurity firm SailPoint for $6.9 billion – FT

(Reuters) – Non-public fairness agency Thoma Bravo is buying cybersecurity agency SailPoint Applied sciences for $6.9 billion, the Monetary Occasions reported on Monday, citing individuals acquainted with the matter.

Thoma Bravo can pay $65.25 a share for SailPoint, in keeping with the report https://www.ft.com/content material/ac996df1-497c-42ae-a0a6-71a7595aab4a. This represents an fairness worth of about $6.14 billion, in keeping with Reuters calculations.

SailPoint shares closed down 1.7% on Friday.

Thoma Bravo and SailPoint didn’t instantly reply to Reuters requests for remark.

A shift to distant working throughout the pandemic, in addition to the Russia-Ukraine battle, has fueled a spike in cyberattacks and bolstered demand for safety software program companies.

In April final yr, Thoma Bravo stated it might purchase Proofpoint Inc in an all-cash deal that valued the cybersecurity agency at about $12.3 billion.

(Reporting by Eva Mathews in Bengaluru; Enhancing by Shailesh Kuber)