Thoma Bravo completes take-private buyout of Ping Identity for $2.8bn

• According to terms of the deal, Ping Identity stockholders will get $28.50 per share
• Goldman Sachs served as financial advisor to Ping Identity on the deal
• Thoma Bravo has more than $122 billion in assets under management as of June 30, 2022

Thoma Bravo has closed its take-private deal of Ping Deal, a cybersecurity firm, for about $2.8 billion. According to terms of the deal, Ping Identity stockholders will get $28.50 per share.

Ping Identity has stopped trading on the New York Stock Exchange.

“With digitization increasing across industries, identity and access management are of critical importance,” said Seth Boro, a managing partner at Thoma Bravo, in a statement. “Our team is excited to partner with Ping Identity to help extend its innovation and drive enhanced customer experiences.”

Goldman Sachs served as financial advisor to Ping Identity while Kirkland & Ellis LLP served as legal advisor. Goodwin Procter LLP served as legal counsel to Thoma Bravo.

Thoma Bravo has more than $122 billion in assets under management as of June 30, 2022. The firm invests in the software and technology sectors.