In a statement on Monday, investment firm Thoma Bravo stated that it will acquire cybersecurity firm SailPoint Technologies in a $6.9 billion deal.
SailPoint shareholders will receive $65.25 in cash per share, a 31.5 percent premium over Friday’s closing price.
A move to remote working during the pandemic, and also the Russia-Ukraine crisis, has boosted the cyberattacks and increased the demand for security software companies.
Premarket, SailPoint’s share was up 26 percent. The news was initially reported by the Financial Times.
Thoma Bravo, which focuses mostly on software and technology companies, has been increasing its stake in the sector.
Last year, Thoma Bravo paid $12.3 billion for cybersecurity firm Proofpoint Inc in an all-cash deal. In March. It agreed to pay $9.65 billion for buying software company Anaplan Inc. in March.