SailPoint Technologies Surges In Pre-market On Acquisition By Pvt. Equity Firm Thoma Bravo

(RTTNews) - Shares of Cyber security company SailPoint Technologies Holdings, Inc. (SAIL) are up nearly 30% in pre-market on Monday after the company announced its decision to be bought by private equity firm Thoma Bravo in a transaction valued about $6.9 billion, to be paid in cash.

As per the deal, SailPoint stockholders will receive $65.25 per share, a premium of 48% to SailPoint's 90-day volume-weighted average price.

The transaction, which will make SailPoint a private firm, is expected to close in the second half of 2022.

SAIL closed at $49.59, down $0.83 or 1.65% on Friday. It is currently trading in pre-market at $64.22.