SailPoint Technologies To Go Private Following Acquisition By Thoma Bravo

(RTTNews) - Cyber security company SailPoint Technologies Holdings, Inc. (SAIL) on Monday announced its decision to go private following acquisition 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 is expected to close in the second half of 2022.

SailPoint shares are up nearly 30% in pre-market at $64.20. It closed Friday's regular trading at $49.59, down $0.83 or 1.65%.