Thoma Bravo to buy cybersecurity firm SailPoint in a $6.9 bln deal

A banner for Sailpoint Technologies Holdings Inc. is displayed on the front of the New York Stock Exchange (NYSE) to celebrate the company's IPO in New York, U.S. November 17, 2017. REUTERS/Brendan McDermid/File Photo

April 11 (Reuters) - Private equity firm Thoma Bravo will acquire SailPoint Technologies (SAIL.N) in a deal valued at $6.9 billion, the cybersecurity firm said on Monday.

SailPoint shareholders will receive $65.25 per share in cash, a premium of 31.5% as of Friday close.

A shift to remote working during the pandemic, as well as the Russia-Ukraine conflict, has fueled a spike in cyberattacks and bolstered demand for security software firms.

SailPoint shares were up 26% premarket. The Financial Times first reported the news.

Thoma Bravo, which is largely focused on software and technology companies, has been doubling down on its investments in the sector.

Last year, it bought Proofpoint Inc in an all-cash deal that valued the cybersecurity firm at about $12.3 billion. read more . It agreed to buy software maker Anaplan Inc (PLAN.N) for $9.65 billion in March.

Reporting by Eva Mathews in Bengaluru; Editing by Shailesh Kuber

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