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By Milana Vinn
Jan 30 (Reuters) – Thoma Bravo is exploring a sale of Imprivata, a digital id software program supplier for the healthcare business, in line with three individuals acquainted with the matter.
The software-focused non-public fairness investor is working with funding bankers at JPMorgan and Evercore on the sale course of for the corporate, which is at the moment in its early phases, the sources mentioned.
The sale might worth Imprivata at as much as $7 billion, or doubtlessly extra, in line with one of many sources, implying a considerable return on Thoma Bravo’s preliminary funding.
The course of is predicted to draw curiosity from companies and personal fairness companies, mentioned the sources who requested anonymity to discuss issues which might be not public.
Thoma Bravo, JPMorgan and Imprivata declined to remark. Evercore didn’t reply to Reuters’ request for remark.
Waltham, Massachusetts-based Imprivata supplies id and entry administration software program that lets healthcare employees securely and rapidly log into scientific programs whereas controlling entry to delicate knowledge.
Imprivata, generally known as one of many safety leaders within the healthcare business, is producing round $500 million in income and is rising quickly, the sources mentioned.
Thoma Bravo acquired Imprivata in 2016 in a take-private transaction, which valued the corporate at $544 million. Since then, the cybersecurity agency has grown by a number of add-on acquisitions, together with its most up-to-date mixture with Verosint, which detects id threats and protects companies.
Safety software program is predicted to proceed attracting M&A curiosity because the broader adoption of AI amplifies issues round knowledge safety, pushing corporations to purchase instruments that safeguard delicate knowledge, guarantee regulatory compliance and shield proprietary fashions.
Excessive-growth cybersecurity corporations have continued to draw elevated valuation multiples, with CyberArk, which was acquired by Palo Alto Networks final yr, valued at greater than 17 occasions ahead income.
(Reporting by Milana Vinn in New York, Modifying by Daybreak Kopecki and Lisa Shumaker)
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