(FT) Shares of cyber security firm SailPoint Technologies rose more than 29% on Monday in premarket after news of a $6.9 billion acquisition by Thoma Bravo.
Thoma Bravo is expected to pay $65.25 per share for SailPoint, which is a 31.5% premium to the target’s closing price on Friday.
The deal will reportedly be financed by private lenders, including those that were involved in the Anaplan takeover.
Thoma Bravo bought into SailPoint again in 2014 and debuted it on the New York Stock Exchange three years later. It then exited its stake by the end of 2018.
The reported deal happens amid a growing market for leveraged buyouts after initially taking a pause following an increase in volatility and the Ukrainian war.
Private equity deals have attracted $288 billion in the first three months of the year, a 17% jump from the comparable period of 2021. The investments come amid a general decline in deal-making, with around $1 trillion so far in 2022, 23% lower than last year.
SAIL: NYSE is up +29.89% on premarket
