(Bloomberg) -- SailPoint Technologies Inc., an enterprise security software firm owned by Thoma Bravo, has selected Morgan Stanley and Goldman Sachs Group Inc. to lead its planned initial public offering, according to people familiar with the matter.
The company is planning to go public in the first six months of 2025, the people said, asking not to be identified because the information is private.
Preparations are ongoing and more banks could be added to the share sale, the people said. Representatives for Thoma Bravo, Morgan Stanley and Goldman Sachs declined to comment. A spokesperson for SailPoint didn’t immediately respond to requests for comment.
SailPoint is set to join a wave of companies preparing for potential 2025 listings, amid expectations that the US IPO market could return to its pre-pandemic average. Tech companies in particular have been absent this year, raising just $7.2 billion on US exchanges, short of the $70.9 billion seen during the same period in 2021’s boom, data compiled by Bloomberg show.
Thoma Bravo took the New York Stock Exchange-listed company private in 2022 in a $6.9 billion transaction. The company’s annual recurring revenue approached $600 million, it said in September 2023.
Home service software business ServiceTitan Inc., which counts Thoma Bravo among its backers, filed publicly on Monday for an IPO.
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