Information that non-public fairness group Thoma Bravo is shopping for Ping Identification for $2.8 billion in money broke earlier in the present day, marking the start of the tip of Ping’s life as a public firm (not less than for now).
Thoma Bravo can pay $28.50 per share in an all-cash transaction, a worth that DailyTech famous is a roughly 63% premium over the corporate’s pre-announcement share worth. Information of the sale emerged after Ping reported earnings that missed each revenue and income estimates within the second quarter.
Provided that M&A exercise has been muted in comparison with 2021’s torrid tempo, the deal is attracting consideration. To higher perceive the transaction, we’re going to dive into Ping’s numbers to see what its sale worth can inform us in regards to the worth of software program firms in the present day, after which riff on the id market itself, a part of the know-how house with a number of public gamers and a current historical past of falling values.
What $2.8B buys you in the present day
Provided that Ping introduced its earnings similtaneously its sale to Thoma Bravo, we will immediately examine its current outcomes with its newly disclosed sale worth.