Tuesday, September 9, 2014

SailPoint Investment From Thoma Bravo Closes

Private equity investor Thoma Bravo said Monday that it has completed its majority investment in Austin-based SailPoint. Financial details of the deal have not been announced. The two announced the deal on August 12th. According to SailPoint CEO Mark McClain, the investment marks the "next phase of aggressive growth" for the company. SailPoint develops identity and access management software for enterprise security. Thoma Bravo was advised by Goodwin Procter LLP in the deal, and SailPoint was advised by VInson & Elkins LLP. Thoma Bravo said Silicon Valley Bank provided financing for the investment.