Thoma Bravo picks up Ping Identity for $2.8B in an all-cash deal

After a tough few months in the markets for Ping Identity, the enterprise identity management company today announced a big move: private equity firm Thoma Bravo is buying the company and taking it private for $2.8 billion.
The news was announced at the same time that Ping posted its Q2 earnings. The company said it made revenues of $72 million for the quarter, missing analysts’ expectations. (It has cancelled its earnings call in light of the acquisition news.)
Ping is traded on the NYSE (it went public pre-pandemic) and Thoma Bravo will be paying $28.50 per share in an all-cash transac

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