Private equity giant Thoma Bravo has now completed its purchase of enterprise identity security vendor SailPoint in an all-cash deal estimated at $6.9 billion that was initially announced on April 11 of this year.
Thoma Bravo struck a similar deal earlier this month with another identity security provider, Ping Identity, which it acquired for $2.8 billion in cash. Ping went from a publicly traded company to a privately held firm under the Thoma Bravo umbrella.
SailPoint, which offers a software-as-a-service (SaaS) identity-security platform called IdentityNow, also now goes from publicly listed on the New York Stock Exchange to a privately held entity under Thoma Bravo. SailPoint stockholders are eligible for $65.25 in cash per share of SailPoint common stock now that the company has been delisted.
"SailPoint is at the forefront of the growing identity-security market and is well-positioned to further capitalize on the increasing demand from enterprises for innovative and trusted solutions," Seth Boro, a managing partner at Thoma Bravo, said in a statement about the deal.