- Thoma Bravo is buying Ping Identification in an all-cash deal for $2.8 billion.
- The acquisition will take publicly held Ping Identification into the non-public markets.
- Thoma Bravo’s different current fintech acquisitions embrace Bottomline Applied sciences, Digital Perception, and Ellie Mae.
Cloud-based identification software program supplier Ping Identification has agreed to be acquired by non-public fairness agency Thoma Bravo. The all-cash deal is predicted to shut within the fourth quarter of this yr for $2.8 billion.
“We’re happy to associate with Thoma Bravo, which has a robust observe file of investing in high-growth cloud software program safety companies and supporting firms with initiatives to turbocharge innovation and open new markets,” mentioned Ping Identification CEO Andre Durand.
Ping Identification was based in 2002 and has since made seven acquisitions of its personal, together with passwordless identification verification firm Singular Key, bot prevention and fraud intelligence agency SecuredTouch, clever authorization firm Symphonic, blockchain-based identification startup ShoCard, AI-powered safety firm Elastic Beam, buyer identification resolution UnboundID, and Accells Applied sciences.
Ping Identification has leveraged this acquired experience, along with its personal in-house information, to assist enterprises take away passwords, forestall fraud, help Zero Belief. The corporate affords a no-code, drag-and-drop person interface to make its seemingly intimidating choices extra approachable for non-technical workers.
After the deal closes, Ping Identification, which is listed on the New York Inventory Trade with a market capitalization of $2.38 billion, will transition to a privately held group. Earlier than the corporate’s debut onto the general public markets, Ping Identification was majority-owned by Vista Fairness, which now owns 9.7% of shares within the Denver, Colorado-based firm.
“Ping Identification is a frontrunner in clever identification options for the enterprise and is well-positioned to capitalize on the numerous alternatives within the $50 billion Enterprise Identification safety options space,” mentioned Thoma Bravo Accomplice Chip Virnig. “Our shared dedication to development and innovation, mixed with Thoma Bravo’s vital safety software program investing and operational experience, will allow Ping Identification to speed up its cloud transformation and supply of trade main identification safety experiences for the shoppers, staff and companions of huge enterprises worldwide.”
Right this moment’s buy marks Thoma Bravo’s 91st acquisition. The agency takes a buy-and-build method by which it acquires related firms and consolidates them to create synergies and develop firms with better scale, scope, and broader service choices. Among the many Illinois-based firm’s most up-to-date fintech purchases are Bottomline Applied sciences, Digital Perception, and Ellie Mae.
Picture by Fábio Lucas
