Tuesday, 16 Jul 2024
Technology

Ping Identity to be Acquired by Thoma Bravo for $2.8 Billion – Aug 3, 2022

Ping Identity, a provider of the Intelligent Identity solution for the enterprise, has announced its acquisition by Thoma Bravo, a leading software investment firm, in a deal worth $2.8 billion. This acquisition will make Ping Identity a privately held company. The transaction has been unanimously approved by the Ping Identity Board of Directors and is expected to close in the fourth quarter of 2022, subject to customary closing conditions and regulatory approvals.

Ping Identity’s Leading Enterprise Identity Solutions

Ping Identity’s leading enterprise identity solutions have positioned the company to capitalize on the growing demand for robust security solutions in the digital-first economy. With a focus on identity security and frictionless user experiences, Ping Identity is well-positioned to meet the needs of modern enterprises.

Thoma Bravo’s Investment in Cloud Software Security Businesses

Thoma Bravo, known for its investments in high-growth cloud software security businesses, has recognized Ping Identity’s unique capabilities and strong position in enterprise identity security. The firm aims to leverage Ping Identity’s strengths to deliver customer outcomes, expand into new use cases, and support digital transformations.

Accelerating Cloud Transformation and Industry-Leading Identity Security Experiences

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The partnership between Ping Identity and Thoma Bravo will enable Ping Identity to accelerate its cloud transformation and enhance its delivery of industry-leading identity security experiences for customers, employees, and partners of large enterprises worldwide. The shared commitment to growth and innovation, coupled with Thoma Bravo’s security software investing and operational expertise, will drive the next phase of Ping Identity’s success.

Frequently Asked Questions

What is Ping Identity?

Ping Identity is a provider of the Intelligent Identity solution for the enterprise. The company offers industry-leading enterprise identity solutions that combine robust security with frictionless user experiences.

Who is Thoma Bravo?

Thoma Bravo is a leading software investment firm that specializes in investing in growth-oriented, innovative companies in the software and technology sectors. With a deep sector expertise and strategic capabilities, Thoma Bravo collaborates with its portfolio companies to drive growth and make accretive acquisitions.

When will the acquisition be completed?

The acquisition is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including approval by Ping Identity shareholders and regulatory approvals.

How will the acquisition impact Ping Identity?

Upon completion of the acquisition, Ping Identity will become a privately held company and its common stock will no longer be listed on the New York Stock Exchange. The company will continue to be headquartered in Denver, Colorado.

Conclusion

Ping Identity’s acquisition by Thoma Bravo marks an exciting milestone for the company. With Thoma Bravo’s investment and expertise, Ping Identity is well-positioned to accelerate its cloud transformation and deliver industry-leading identity security experiences. This partnership will drive innovation, growth, and customer success in the evolving digital landscape.

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For more information about Ping Identity and its enterprise identity solutions, visit Eireview.