(Bloomberg) -- Thoma Bravo has begun interviewing underwriters as the firm explores options including an initial public offering for Sailpoint Technologies Inc., roughly two years after taking the company private, according to people with knowledge of the matter.
The technology investment firm hasn’t finalized decisions, including timing of a potential listing of the enterprise security software company, the people cautioned, asking not to be identified because the information is private.
A spokesperson for Thoma Bravo declined to comment. Representatives for Sailpoint didn’t immediately respond to requests for comment.
Sailpoint’s annual recurring revenue approached $600 million, it said in September 2023.
Thoma Bravo took the New York Stock Exchange-listed company private in 2022 in a $6.9 billion transaction.
A listing would bolster the ranks of tech firms going public, which have dwindled in recent years after interest rates climbed. Tech companies have raised just $6.7 billion on US exchanges in 2024, far short of the nearly $57 billion seen during the same period three years ago, according to data compiled by Bloomberg.
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