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Friday, January 27, 2023

SailPoint (NYSE: SAIL) to be Purchased by Thoma Bravo

SailPoint Technologies Holdings, Inc. (NYSE: SAIL) confirmed that it has inked an acquisition agreement with Thoma Bravo. As per an agreement, Thoma Bravo will buy SailPoint Technologies Holdings in an all-cash transaction that values SailPoint at around $6.9 billion. SailPoint believed that this deal offers significant immediate cash value to its stockholders and maximizes the value of their shares.

With the backing of a strong financial partner with significant sector knowledge, the deal will also enable SailPoint to continue its long-term growth trajectory with increased freedom and effectiveness to assist its customers, expand its markets, and drive innovation in identity security. Thoma Bravo’s faith in SAIL’s identity security strategy coincides well with its aim to enhance and expand its leadership for many years to come.

SailPoint, according to Thoma Bravo, is well-positioned to take advantage of the vast and growing need from modern businesses for powerful identity security solutions that protect their operations and decrease risk. Their market-leading identity security technology offers the autonomous and intelligent approach that today’s market demands, particularly among larger businesses and as hybrid working become more popular.

Financial Overview

Stockholders of SailPoint will get $65.25 per share in cash if the Agreement’s terms are met, reflecting a 48 percent premium over the company’s 90-day volume-weighted average price (VWAP). SailPoint will become a privately held firm with the flexibility and resources to keep offering industry-leading identity security solutions to contemporary enterprises throughout the world once the deal is completed. SailPoint will also benefit from Thoma Bravo’s operating capabilities, financing assistance, and extensive software experience.

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