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 approximately $2.8 billion. The agreement to be acquired was previously announced on August 3, 2022 and approved by Ping Identity stockholders at Ping Identity’s Special Meeting .
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Upon completion of the acquisition, Ping Identity stockholders are entitled to receive $28.50 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,” said 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.”
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“With digitization increasing across industries, identity and access management are of critical importance,” said 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.
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