Thoma Bravo is to acquire Ping Identity, provider of the Intelligent Identity solution for the enterprise, for $28.50 per share in an all-cash transaction valued at an Enterprise Value of approximately $2.8 billion.
The offer represents a premium of approximately 63% over Ping Identity’s closing share price on 2 August, 2022, the last full trading day prior to the transaction announcement, and a premium of 52% over the volume weighted average price of Ping Identity stock for the 60 days ending 2 August, 2022.
Vista Equity Partners, which owns approximately 9.7% of Ping Identity’s outstanding shares, has agreed to vote its shares in favour of the transaction.
Read more: Private Equity Wire
