Sailpoint jumps 30% after Thoma Bravo deal.

Sailpoint Technologies Holdings Inc. (SAIL) saw its shares jump by 30% after private equity firm Thoma Bravo announced its acquisition of the identity management software company. The deal, which is valued at $2.3 billion, is expected to close in the first quarter of 2022.

Sailpoint, which provides software solutions for managing digital identities and access to enterprise systems, has seen strong growth in recent years as companies increasingly prioritize cybersecurity and data protection. The company’s revenue grew by 20% in 2020, and it has a market capitalization of over $4 billion.

Thoma Bravo, which specializes in software and technology investments, has a track record of successful acquisitions in the cybersecurity space. The firm previously acquired cybersecurity companies such as Barracuda Networks and Sophos, both of which saw significant growth under Thoma Bravo’s ownership.

The acquisition of Sailpoint is expected to further strengthen Thoma Bravo’s position in the cybersecurity market. “Sailpoint is a leader in the identity management space, and we are excited to partner with the company to help accelerate its growth and innovation,” said Seth Boro, a managing partner at Thoma Bravo.

The deal is also expected to benefit Sailpoint’s customers, who will have access to Thoma Bravo’s extensive network of technology resources and expertise. “We are thrilled to partner with Thoma Bravo to continue to innovate and deliver value to our customers,” said Mark McClain, CEO and co-founder of Sailpoint.

The acquisition of Sailpoint is just the latest in a series of high-profile deals in the cybersecurity space. In August, cybersecurity company NortonLifeLock announced its acquisition of Avast, a leading provider of antivirus software, in a deal valued at $8.6 billion. And in July, cybersecurity firm Proofpoint was acquired by private equity firm Thoma Bravo in a deal valued at $12.3 billion.

As companies continue to prioritize cybersecurity and data protection, the demand for innovative software solutions is expected to remain strong. The acquisition of Sailpoint by Thoma Bravo is a clear indication of the growing importance of identity management in the cybersecurity landscape, and the potential for continued growth in the industry.