Thoma Bravo-backed SailPoint valued at $12.8 billion in muted market return

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Thoma Bravo-backed SailPoint valued at $12.8 billion in muted market return - Channel News Asia

Quick Summary:

:SailPoint was valued at $12.8 billion after its shares debuted in line with their offer price on Thursday, marking a tepid return to the stock market for the Thoma Bravo-backed identity security company.

The company lets customers, including Detroit automaker General Motors and chocolate maker Hershey, establish and control their security processes.

The Austin, Texas-based company's stock opened at $23 per share, adding to a string of subdued debuts this year amid heightened investor scrutiny over valuations.