Shares of SailPoint Technologies surged nearly 30% after US private equity group Thoma Bravo agreed to acquire SailPoint for $6.9B, according to a report by FT on Monday.

  • Thoma Bravo, managing over $100 billion in assets, will pay $65.25 per share for SailPoint. The deal is expected to be officially announced on Monday morning.
  • Texas-based SailPoint helps businesses to give employees access to secure remote working software and protect cloud computing infrastructure from attackers.
  • The purchase price is a 31.5% premium to SailPoint’s closing stock price and is the second time Thoma Bravo is investing. The group initially bought into SailPoint in 2014 and exited the holding by the end of 2018.

Monday’s deal signals the increased interest in acquisitions among private equity buyers, more so in the software sector, which sold off rapidly at the start of the year. SAIL is up +29.86%, ORCL is down -1.00%, Pre-market trading