Ping Identity, the intelligent identity solution for the enterprise, announced the completion of its acquisition by Thoma Bravo, a leading software investment firm, in an all-cash transaction valued at approximatelyย $2.8 billion. The agreement to be acquired was previously announced onย August 3, 2022 and approved by Ping Identity stockholders at Ping Identity’s Special Meeting .
CIO INFLUENCE News:ย Nozomi Networks and NetWitness Team to Deliver Advanced Cyber Security Solutions to OT & IoT Environments
Upon completion of the acquisition, Ping Identity stockholders are entitled to receiveย $28.50ย in cash for each share of Ping Identity common stock they owned. Ping Identity’s common stock has ceased trading and will be delisted from the New York Stock Exchange.
“The closing of this transaction underscores how identity security and frictionless user experiences have become essential in the digital-first economy,” saidย Andre Durand, CEO and founder of Ping Identity. “With the support of Thoma Bravo, Ping Identity can further accelerate innovation to deliver the easy and secure digital experiences customers demand from every industry. We are excited that this next chapter provides the opportunity to better serve global enterprises on their digital transformation journey.”
CIO INFLUENCE News:ย Crunchy Data and Center for Internet Security Announce Benchmark Update for PostgreSQL 16
“With digitization increasing across industries, identity and access management are of critical importance,” saidย Seth Boro, a Managing Partner at Thoma Bravo. “Our team is excited to partner with Ping Identity to help extend its innovation and drive enhanced customer experiences.”
Goldman Sachs & Co. LLC acted as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to Ping Identity. Goodwin Procter LLP served as legal counsel to Thoma Bravo.
CIO INFLUENCE News:ย NTT DATA Appoints Tammy Soares President of Launch by NTT DATA
[To share your insights with us, please write toย sghosh@martechseries.com]
