Thoma Bravo is exploring a sale of identity management software provider Imprivata, according to a report by Reuters citing people familiar with the matter. The firm is reportedly working with advisers at JPMorgan and Evercore on a process that remains at an early stage.
A transaction could value Imprivata at up to $7bn, with the process expected to attract interest from both strategic buyers and other private equity firms.
Based in Waltham, Massachusetts, Imprivata provides identity and access management software used by healthcare organisations to secure access to clinical systems and sensitive data. The company is said to be generating around $500m in revenue and growing rapidly, supported by a series of add-on acquisitions, including its recent deal for Verosint.
Deal activity in cybersecurity remains strong as firms respond to rising data protection and regulatory pressures, intensified by the adoption of artificial intelligence. High-growth assets continue to command premium valuations, with CyberArk valued at more than 17x forward revenue when it was acquired by Palo Alto Networks last year.
