Leveraged buyout market is roaring back to life after a pause amid rising volatility and war in Ukraine
US private equity group Thoma Bravo is buying cyber security company SailPoint Technologies for $6.9bn, the latest in a flurry of deals that signals the leveraged buyout market is roaring back to life after a pause amid rising volatility and the war in Ukraine.
Thoma Bravo, which manages more than $100bn in assets, will pay $65.25 a share for SailPoint, two people with direct knowledge of the details told the Financial Times. The deal is expected to be announced later on Monday morning.
Elliott Management has also led two large private equity-backed deals this year, taking software company Citrix private alongside Vista Equity Partners for $16.5bn in January, and buying television ratings company Nielsen for $16bn with Canadian group Brookfield late last month.
A consortium led by Advent International and Permira Advisers was able to close the $14bn buyout of cyber security company McAfee in early March, raising billions from bank lenders as markets fell sharply in the days after Russia invaded Ukraine.
Read more: FT
