Software investment firm Thoma Bravo has finalized its purchase of SailPoint Technologies Holdings, an enterprise identity security company, in an all-cash deal worth approximately $6.9 billion.
SailPoint, which previously traded on the New York Stock Exchange under the ticker symbol “SAIL,” will become a privately held company with a focus on expanding its client base worldwide and advancing innovation in identity security, the companies said in a joint release published Tuesday.
Mark McClain, CEO and founder of SailPoint, said Thoma Bravo’s sector expertise and resources will provide the company an opportunity to drive innovation across its portfolio of product offerings.
“SailPoint’s intelligent identity platform equips customers to meet the demands of today’s cloud-oriented enterprises by putting identity security at the core of digital business operations,” said Andrew Almeida, a partner at Thoma Bravo.
With the transaction’s completion, stockholders at SailPoint will get $65.25 in cash for each share of common stock they own.
The companies first announced the deal in April and SailPoint stockholders approved the transaction on June 30.