What the SailPoint purchase by Thoma Bravo means to you￼| May 24, 2022
Private Equity firm Thoma Bravo acquires IaM software giant SailPoint for about $6.9 Billion – announced Monday 4/1.
Thoma Bravo’s deal to take the Austin, TX-based Identity and Access Management provider SailPoint private shows the growing demand for enterprise security software. Thoma Bravo has made serious moves in the cybersecurity world, showing the growing need and value investors see in the technology needed to implement a strong program.
Identity and Access Management software adds additional security over passwords and multi-factor authentication. It functions by limiting access to network resources and providing application access only to employees who need it when they need it. It functions automatically eliminating the need for IT to spend time and resources granting access, resetting passwords, and removing access when appropriate.
IaM is difficult to implement requiring access to every part of a network, application connections, and a team that has the training and experience to manage it. As remote work continues to grow and become entrenched, identity and access management will become more important.
“Identity security is core to cyber security and businesses have realized that to fuel business growth and success, they must start with identity as the foundation for secure business transformation,” SailPoint CEO and founder Mark McClain said.
According to a recent analysis by Technavio, the IaM market is expected to grow by $10+ Billion through 2026. Therefore, it is becoming increasingly important to create and implement a strategy that not only incorporates the software required, but to have a team in place to manage the system. Many organizations are turning to outsourcing the expertise needed to create, implement and manage a cybersecurity strategy that includes IaM. For more information about how this affects your organization please contact us at Concensus Technologies.