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Vista Equity Partners exits Ping Identity following $2.8bn sale to Thoma Bravo

Vista Equity Partners (Vista), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, has exited its investment in Ping Identity, the intelligent identity solution for the enterprise and a Vista portfolio company since 2016, following the completion of the previously announced acquisition of the company by Thoma Bravo for $2.8 billion.

Vista’s June 2016 investment came after the team had carefully researched the broader Identity and Access Management space and spent time establishing a strong relationship with Ping Identity’s founder Andre Durand. Together, Vista and the Ping Identity team fortified Ping’s market leadership through product expansion, increased customer adoption and operational scale, as well as completing six add-on acquisitions.

During Vista’s ownership, Ping Identity more than tripled its annual recurring revenue, increased its employee headcount from just over 800 to more than 1,200 and strengthened its customer base to now include more than half of the Fortune 100. Ping Identity listed on the New York Stock Exchange in 2019.

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