Ping Identification to Go Personal After $2.8B Acquisition

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Funding agency Thoma Bravo has entered right into a settlement to accumulate Ping Identification in a deal valued at about $2.8 billion. Upon completion of the all-cash transaction, the agency mentioned it’ll take the identification administration companies supplier personal. 

Ping presents cloud-based safety software program that permits password-less sign-on, fraud safety, and extra. The ten-figure money provide places the funding group ready to make the most of what they forecast will probably be a $50 billion enterprise identity-security options market, in response to Thoma Bravo companion Chip Virnig.

“This compelling transaction is a testomony to Ping Identification’s main enterprise identification options, our gifted group, and our excellent clients and companions,” Andre Durand, Ping Identification’s chief govt officer mentioned in an announcement of the deal. “Identification safety and frictionless person experiences have develop into important within the digital-first financial system and Ping Identification is healthier positioned than ever to capitalize on the rising demand from fashionable enterprises for strong safety options.”

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