Thoma Bravo has agreed to make a significant equity investment in SailPoint, a provider of identity and access management (IAM) services. SailPoint recently reported record operating profits and is the fastest growing IAM company in North America, according to the latest Deloitte Technology Fast 500. The transaction is expected to close in the third quarter of 2014.
“Thoma Bravo is very excited to partner with the SailPoint team to propel the company into its next stage of growth,” said Seth Boro, a managing partner at Thoma Bravo. “We believe that the combination of SailPoint’s proven innovation and leadership in the IAM market and Thoma Bravo’s expertise in Enterprise Security will further strengthen SailPoint’s status as the market leader.”
SailPoint products and services are used to deliver and manage user access from any device to data and applications residing in the datacenter, on mobile devices, and in the cloud. The company’s product portfolio offers a set of integrated services including identity governance, provisioning, and access management. The company was founded in 2005 and is based in Austin, TX (www.sailpoint.com).
“The complexities of identity and access management have created significant security concerns within the enterprise. SailPoint’s platform was purposely built to specifically address these concerns, making it uniquely positioned in the IAM marketplace,” said Chip Virnig, a Vice President at Thoma Bravo.
Thoma Bravo provides equity and strategic support to management teams building growing companies. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo currently manages approximately $7.5 billion of equity capital. The firm was founded in 1981 and has offices in Chicago and San Francisco (www.thomabravo.com).
Foros, a boutique strategic and M&A advisory firm based in New York (www.forosgroup.com), acted as financial advisor to SailPoint on this transaction.
“Today’s news represents a significant inflection point for SailPoint as we work toward our company mission of becoming ‘Identity Inc.’ for the enterprise,” said Mark McClain, founder and CEO of SailPoint. “As the market leader, and given our rapid growth, it’s critical to the success of SailPoint – as well as our customers and partners – to continue scaling our company. Partnering with Thoma Bravo, which has significant experience with high growth companies in the enterprise software arena, will help us to continue our aggressive growth while maintaining our unparalleled customer satisfaction levels.”
2014 PEPD • Private Equity’s Leading News Magazine • 8-13-14
