M&A · Tech · Services-Prepackaged Software
Thoma Bravo to acquire SailPoint Technologies Holdings, Inc.
Announced Apr 11, 2022 · Closed Aug 16, 2022
Deal value$6.90BEV $6.07B
Premium32.0%To unaffected price
EV / Adj. EBITDA—13.8x EV / Revenue
ConsiderationAll cash$65.25 per share
Transaction
- Acquirer
- Thoma Bravo
- Target
- SailPoint Technologies Holdings, Inc.
- Buyer type
- Private equity
- Offer price per share
- $65.25
- Enterprise value
- $6.07B
- Status
- Closed Aug 16, 2022
Deal protections
- Break fee (target pays)
- $213M · 3.1%
- Reverse fee (buyer pays)
- $425M · 6.2%
- Go-shop
- Go-shop
- Financing
- Committed · Macquarie, Morgan Stanley, RBC Capital Markets, BofA Securities
Advisors
- To the acquirer
- Not disclosed
- To the target
- Morgan Stanley
- Morgan Stanley fee
- $62.0M
Sector context · Tech
- Comparable deals
- 64 in the prior 24 months
- Premium
- 32.0% vs. 31.0% sector median
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- 3.1% vs. 3.0% sector median
Timeline
- AnnouncedApr 11, 2022
- Proxy filedMay 20, 2022
- Definitive proxyMay 31, 2022
- Shareholder voteJun 30, 2022
- ClosedAug 16, 2022
Valuation · fairness opinions
Analyst price targets$45.00$70.00
Analyst price targets$60.00$63.00
Analyst price targets$54.63$57.36
Offer $65.25
Implied value per SailPoint Technologies Holdings, Inc. share by analysis, from Morgan Stanley · DCF discount rate 8.6%–10.5%.