Business
SailPoint Announces Expiration of “Go-Shop” Period
Transaction Is Expected to Close in the Second Half of 2022 AUSTIN, Texas--(BUSINESS WIRE)-- SailPoint Technologies Holdings, Inc. (NYSE: SAIL)
About this update from Sailpoint, Inc.
[{"type":"text","content":"\nTransaction Is Expected to Close in the Second Half of 2022\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nSailPoint Technologies Holdings, Inc. (NYSE: SAIL) (“SailPoint”), the leader in enterprise identity security, today announced the expiration of the 35-day “go-shop” period under the terms of the previously announced definitive agreement, pursuant to which Thoma Bravo, L.P. (“Thoma Bravo”), a leading software investment firm, will acquire SailPoint in an all-cash transaction for $65.25 per share. The “go-shop” period expired at 11:59 p.m. (Eastern Time) on May 16, 2022.\n\nDuring the go-shop period, SailPoint’s Board of Directors, with the assistance of Morgan Stanley & Co. LLC, actively solicited alternative acquisition proposals from potentially interested third parties; however, during the “go-shop” period, SailPoint did not receive any alternative acquisition proposals from any third party.\n\nFollowing the expiration of the go-shop period, SailPoint became subject to customary no-shop restrictions that limit its and its representatives’ ability to solicit alternative acquisition proposals from third parties, subject to customary “fiduciary out” provisions.\n\nThe transaction is expected to close in the second half of 2022, subject to customary closing conditions including approval by SailPoint stockholders and receipt of regulatory approvals. Upon closing of the transaction, SailPoint’s common stock will no longer be listed on any public market. The Company will continue to be headquartered in Austin, Texas.\n\nAbout SailPoint\n\nSailPoint is the leader in identity security for the modern enterprise. Harnessing the power of AI and machine learning, SailPoint automates the management and control of access, delivering only the required access to the right identities and technology resources at the right time. Its sophisticated identity platform seamlessly integrates with existing systems and workflows, providing the singular view into all identities and their access. We meet customers where they are with an intelligent identity solution that matches the scale, velocity and environmental needs of the modern enterprise. SailPoint empowers the most complex enterprises worldwide to build a security foundation grounded in identity security. More information is available at www.sailpoint.com.\n\nImportant Information and Where to Find...