TPG Capital To Buy Thycotic For $1.4B, Merge It With Rival Centrify: Report
The deal between TPG and privileged access management vendor Thycotic was signed Monday but has yet to close. It will lead to the private equity firm combining Thycotic with recently acquired rival Centrify.
By
Michael Novinson March 02, 2021, 11:19 AM EST
TPG Capital has agreed to purchase privileged access management (PAM) vendor Thycotic for $1.4 billion and combine it with recently acquired competitor Centrify, PE Hub reported.
The deal between San Francisco-based TPG and Washington, D.C.-based Thycotic was signed Monday but has yet to close, sources told PE Hub. Thycotic’s $1.4 billion valuation translates into an 11.6X revenue multiple, according to PE Hub, which reported last month that Thycotic generates $120 million in sales and is nearly even on earnings before interest, taxation, depreciation and amortization (EBITDA).