M&A Deal Summary

Thoma Bravo Acquires Ping Identity

On August 3, 2022, private equity firm Thoma Bravo acquired information technology company Ping Identity for 2.8B USD

Acquisition Highlights
  • This is Thoma Bravo’s 30th transaction in the Information Technology sector.
  • This is Thoma Bravo’s 15th largest (disclosed) transaction.
  • This is Thoma Bravo’s 110th transaction in the United States.
  • This is Thoma Bravo’s 3rd transaction in Colorado.

M&A Deal Summary
Date 2022-08-03
Target Ping Identity
Sector Information Technology
Buyer(s) Thoma Bravo
Deal Type Going Private
Deal Value 2.8B USD
Advisor(s) Goldman Sachs (Financial)
Kirkland & Ellis (Legal)

Target

Ping Identity

Denver, Colorado, United States
website
Ping Identity engages in Identity Defined Security for the borderless enterprise, allowing employees, customers, and partners access to the applications they need. Protecting over one billion identities worldwide, the company ensures the right people access the right things, securely and seamlessly. More than half of the Fortune 100, including Boeing, Cisco, Disney, GE, Kraft Foods, TIAA-CREF, and Walgreens, trust Ping Identity to solve modern enterprise security challenges created by their use of cloud, mobile, APIs, and IoT. Ping Identity was founded in 2016 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 123 of 136
Sector (Information Technology) 30 of 35
Type (Going Private) 31 of 39
State (Colorado) 3 of 3
Country (United States) 110 of 118
Year (2022) 7 of 12
Size (of disclosed) 15 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-25 Mercell

Oslo, Norway

Mercell delivers services to public and private buyers by providing a software-as-a-service (SaaS)-platform for e-tendering and procurement in Europe. The company is a platform for public e-tendering and entered the procurement market in 2020, and services approximately 30,000 customers across 15 European markets and in the US. Mercell's unique marketplace simplifies the tender and procurement process and makes it safe and easy for buyers to find relevant suppliers for their tenders and daily purchasing needs. It also ensures suppliers find relevant business opportunities and offers tools for suppliers to digitally receive and handle purchases from public and private buyers. Mercell Holding was founded in 1999 and is based in Oslo, Norway.

Buy Nkr3.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-30 Frontline Education

Malvern, Pennsylvania, United States

Frontline Education is a provider of cloud-based K-12 software that empowers more than 7,500 school districts and millions of educators to positively impact student learning. Frontline Education was founded in 1998 and is based in Malvern, Pennsylvania.

Sell $3.7B
Mergr

Product

Company

Legal