Merger activity increased last week with five new deals announced and one of the five new deals announced was a potential deal in the works.
SailPoint Technologies (SAIL)
Thoma Bravo continued its binge of software acquisitions last week by entering into an agreement to acquire SailPoint Technologies. This is Thoma Bravo’s second acquisition this year. On March 30, 2022, Thoma Bravo announced the acquisition of Anaplan (PLAN) for $10.7 billion. We checked our database and Thoma Bravo acquired six public companies last year for a total of $32.3 billion. The private equity firm has also approached Twitter (TWTR) after Elon Musk sent his $54.20 per share non-binding proposal to acquire Twitter.
Founded in 2004 and headquartered in Austin, Texas, SailPoint Technologies provides identity security to modern enterprises by harnessing AI and machine learning. On April 11, 2022, the company entered into an agreement to be acquired by Thoma Bravo for $6.9 billion. Expected to close in the second half of the year, the agreement includes a “go-shop” period, that will expire on May 16, 2022.
Datto Holding (MSP)
Founded in 2007 and headquartered in Norwalk, Connecticut, Datto Holding provides security and cloud-based software solutions purpose-built for Managed Service Providers (MSPs). We added Datto Holdings as a potential deal in the works on March 16, 2022, when Bloomberg reported that the company was exploring strategic options including a potential sale after receiving takeover interest. MSP’s price after this announcement was $25.86. On April 11, 2022, Kaseya, a provider of unified IT management and security software , entered into a definitive agreement to acquire Datto for $6.2 billion or $35.50 per share in cash. The offer represents a 52% premium to Datto’s stock price of $23.37 as of March 16.