2022-10-18 | Press release | Thoma Bravo Completes Acquisition of Ping Identity

DENVER, October 18, 2022 /PRNewswire/ — Ping identitysmart identity solution for the enterprise, announced the completion of its acquisition by Thoma Bravo, a leading software investment firm, in an all-cash transaction valued at approximately $2.8 billion. The agreement to acquire was previously announced on August 3, 2022 and approved by Ping Identity shareholders at the special meeting of Ping Identity shareholders held on October 17, 2022.

Upon completion of the acquisition, Ping Identity shareholders are entitled to receive $28.50 in cash for each share of Ping Identity common stock they held. Ping Identity common stock has ceased trading and will be delisted from the New York Stock Exchange.

“The closing of this transaction underscores how essential identity security and seamless user experiences have become in the digital-first economy,” said Andre Durand, CEO and Founder of Ping Identity. “With the support of Thoma Bravo, Ping Identity can further accelerate innovation to deliver the simple and secure digital experiences that customers across industries demand. We are excited that this next chapter offers the opportunity to better serve global enterprises on their digital transformation journey.

“With increasing digitization across all industries, identity and access management is of critical importance,” said Seth Boro, Managing Partner at Thoma Bravo. “Our team is thrilled to partner with Ping Identity to help scale their innovation and improve the customer experience.”

Goldman Sachs & Co. LLC acted as exclusive financial advisor and Kirkland & Ellis LLP acted as legal advisor to Ping Identity. Goodwin Procter LLP served as legal counsel to Thoma Bravo.

About Ping Identity

At Ping Identity, we believe in making digital experiences both secure and seamless for all users, without compromise. This is digital freedom. We enable businesses to combine our best-in-class identity solutions with third-party services they already use to remove passwords, prevent fraud, support Zero Trust, and more. This can be accomplished through a simple drag-and-drop canvas. That’s why more than half of Fortune 100 companies choose Ping Identity to protect their users’ digital interactions while making experiences seamless. Learn more about www.pingidentity.com.

About Thomas Bravo

Thoma Bravo is one of the largest private equity firms in the world, with over $122 billion of assets under management at June 30, 2022. The company invests in innovative growth-oriented companies operating in the software and technology sectors. Leveraging the firm’s deep industry expertise and proven strategic and operational capabilities, Thoma Bravo works with its portfolio companies to implement operating best practices, drive growth initiatives and execute acquisitions. accretive investments intended to accelerate revenues and profits. Over the past 20 years, the company has acquired or invested in more than 400 companies representing more than $220 billion in enterprise value. The company has offices in Chicago, Miami and San Francisco. For more information, visit www.thomabravo.com.

Forward-looking statements

This communication contains and Ping Identity Holding Corp.’s other documents and press releases. (the “Company”) may contain forward-looking statements, which include any statements that do not relate solely to historical or current facts, such as statements regarding our expectations. , intentions or strategies regarding the future. In some cases, you can identify forward-looking statements by the following words: “may”, “will”, “could”, “would”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “project”, “aim”, “potential”, “continue”, “in progress”, “goal”, “may”, “seek”, “target” or the negative form of these terms or other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements are based on the beliefs of management, as well as assumptions made by the Company and information currently available to it. Because these statements are based on expectations of future financial and operating results and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and uncertainties, including ent: (i) the effect of the transaction on the business relationships, results of operations and business of the Company generally; (ii) the Company’s ability to retain and hire key personnel and to maintain relationships with key business partners and customers, and others with whom it does business, in light of the transaction; (iii) any unforeseen costs, charges or expenses resulting from the Merger; (iv) potential Merger-related litigation that may be brought against the parties to the Merger Agreement or their respective directors, officers or directors, including the effects of any results therefrom; (v) the continued availability of capital and shares of funding and rating agencies; (v) the unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, war or hostilities or the COVID-19 pandemic, as well as management’s response to the one of the factors mentioned above; (vi) the impact of adverse general and industry economic and market conditions, including any impact of ongoing conflict in Ukraine and Russia, and reductions in IT and identity spending; and (vii) other risks described in the Company’s filings with the United States Securities and Exchange Commission (the “SEC”), such risks and uncertainties described under the headings “Forward-Looking Statements”, “Factors Risk” and other sections of the Annual Report on Form 10-K filed with the SEC on February 24, 2022the company’s quarterly report on Form 10-Q filed with the SEC on August 4, 2022, and later filings. Although the list of risks and uncertainties set forth herein is, and the discussion of risks and uncertainties to be presented in the information statement is, believed to be representative, no such list or discussion should be construed as a complete statement of all potential risks and uncertainties. Factors not listed may present additional material impediments to the making of forward-looking statements. The consequences of material differences in results from those anticipated in the forward-looking statements could include, among others, business interruption, operational problems, financial loss and legal liability to third parties and similar risks, each of which may have a material adverse effect on the completion of the Merger and/or on the consolidated financial condition, results of operations, credit rating or liquidity of the Company. Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

contacts

For Ping Identity

Media Relations:

Megan Johnson

Tel: 757.635.2807

[email protected]

For Thomas Bravo

Thomas Bravo Communications

Megan Frank

212-731-4778

[email protected]

Global FGS

Liz Mucci / Abigail Farr

[email protected] / [email protected]

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SOURCEPing Identity Corp.

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