Security News > 2022 > April > Identity access management has a new price: $6.9 billion

The nearly $7 billion purchase was made by tech private equity firm Thoma Bravo for Texas-based enterprise IAM company SailPoint, whose software portfolio includes AI-powered wares designed to detect irregularities that could signal intrusion.

Thoma Bravo acquired Proofpoint in 2021 for $12.3 billion and took it private, a strategy that will be echoed with SailPoint.

Upon closing, SailPoint will be considered a privately held company and won't be listed on any public stock exchange.

Since today's announcement, SailPoint stock increased nearly 30 percent in pre-market trading and could soon exceed the $65.25 price point.

As an increasing number of businesses settle into the reality that remote work isn't going away despite the waning of the COVID-19 pandemic, IAM will become increasingly important, as SailPoint CEO and founder Mark McClain sees it.

Recently published research predicts the IAM market will grow to $10.05 billion by 2026, with a compound annual growth rate of 16.67 percent.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/04/11/identity_access_management/