SailPoint is being acquired by U.S. private equity giant Thoma Bravo for $6.9 billion.

• On Monday, SailPoint announced that it was being acquired by U.S. private equity giant Thoma Bravo in an all-cash deal worth approximately $6.9 billion.
• The acquisition of Sailpoint by Thoma Bravo for $65.25 per share in cash caused the stock price to increase.
• The increasing demand for enterprise security software is underscored by Thoma Bravo's deal to acquire the company privately.

The cybersecurity company was acquired by U.S. private equity giant Thoma Bravo in an all-cash deal worth approximately $6.9 billion, as announced on Monday.

The growing demand for enterprise security software is underscored by Thoma Bravo's deal to take the company private. With many companies still operating remotely due to the Covid pandemic and the Russia-Ukraine war increasing cyberattack fears, the need for robust security measures has become more pressing than ever.

SailPoint stock will surge 29% after Thoma Bravo agrees to pay $65.25 per share in cash.

SailPoint, founded in 2005, offers identity and access management software to help businesses manage security risks. The company went public in 2017.

Mark McClain, founder and CEO of SailPoint, stated that the transaction will enable the company to pursue its long-term growth trajectory with more flexibility, expand its markets, and accelerate innovation in the sector.

Thoma Bravo has made another acquisition, following its $10.7 billion purchase of Anaplan and its $12.3 billion acquisition of Proofpoint last year. The company now has 25 security-focused firms in its portfolio, including SailPoint, according to its website.

The SailPoint transaction is anticipated to close in the second half of 2022. Although SailPoint's board has approved the deal, it is still subject to shareholder and regulatory approval. Morgan Stanley is serving as a financial advisor.