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SentinelOne looking for PE buyer

Publicly-traded cybersecurity specialist SentinelOne is considering a sale to a private equity investor and has hired investment bank Catalyst Partners to assist in finding a suitable purchaser, according to a report by Reuters.

SentinelOne has seen an 80% drop in its market capitalisation over the past two years making it a potential PE takeover target, although its stock price was up about 15% to $16.64 a share by midday on Monday after Reuters published its report.

In a public offering in 2021, SentinelOne achieved a valuation of $8.9bn, making it the largest cybersecurity IPO to date. According to Reuters, its valuation prior to Monday’s report stood at just $4.2bn.

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