Thoma Bravo picks up Ping Identity for $2.8 Billion in an all-cash deal

guest · Aug 3, 2022

August 3, 2022

After a tough few months in the markets for Ping Identity, the enterprise identity management company today announced a big move: private equity firm Thoma Bravo is buying the company and taking it private for $2.8 billion.

The news was announced at the same time that Ping posted its Q2 earnings. The company said it made revenues of $72 million for the quarter, missing analysts’ expectations. (It has cancelled its earnings call in light of the acquisition news.)
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Identity management remains a very hot area in the world of enterprise IT, given the increasing number of cyber attacks and breaches that started by hackers maliciously entering networks through credential stuffing and other tactics that leverage weaknesses in log-in procedures.

“A tectonic shift is occurring in intelligent identity solutions for the enterprise,” said Seth Boro, a Managing Partner at Thoma Bravo, in a statement. “Ping Identity’s unique capabilities and strong position in enterprise identity security make it a great platform to deliver customer outcomes, expand into new use cases and support digital transformations. We are highly impressed with the talented Ping Identity team and look forward to working collaboratively in the years to come.”
More to come.
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Press Release: Ping Identity to be Acquired by Thoma Bravo for $2.8 Billion

Ping Identity (NYSE: PING), provider of the Intelligent Identity solution for the enterprise, today announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, for $28.50 per share in an all-cash transaction valued at an Enterprise Value of approximately $2.8 billion.

The offer represents a premium of approximately 63% over Ping Identity's closing share price on August 2, 2022, the last full trading day prior to the transaction announcement, and a premium of 52% over the volume weighted average price of Ping Identity stock for the 60 days ending August 2, 2022.
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Thoma Bravo picks up Ping Identity for $2.8 Billion in an all-cash deal

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Thoma Bravo picks up Ping Identity for $2.8 Billion in an all-cash deal

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