What was changed
Thoma Bravo’s $6.9 billion agreement to purchase Austin‑based SailPoint followed a year after Okta’s $6.5 billion bid for Auth0, underscoring strong investor interest in identity management.
The deal added SailPoint to Thoma Bravo’s existing cybersecurity investments, which already included Proofpoint, Barracuda Networks and Sophos, signaling the firm’s continued focus on the sector.
What it achieved
Added SailPoint to Thoma Bravo’s cybersecurity holdings, increasing portfolio value and market presence
Why it worked
Identity‑management solutions were seeing heightened demand as companies moved to cloud and remote work.
Thoma Bravo sought to consolidate its cybersecurity platform by acquiring a market‑leader with recurring revenue streams.
What can be applied
Large‑scale acquisitions can rapidly scale a private‑equity firm’s capabilities in a hot sector
Aftermath
After the acquisition, Thoma Bravo integrated SailPoint into its portfolio, using the company’s technology to cross‑sell to other holdings and pursue further add‑on purchases in the security space.
FOLLOW THE EVIDENCE