Information that personal fairness group Thoma Bravo is shopping for Ping Id for $2.8 billion in money broke earlier right this moment, marking the start of the tip of Ping’s life as a public firm (no less than for now).
Thoma Bravo pays $28.50 per share in an all-cash transaction, a worth that TechCrunch 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.
On condition 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 right this moment, after which riff on the identification market itself, a part of the know-how area with a number of public gamers and a latest historical past of falling values.
What $2.8B buys you right this moment
On condition that Ping introduced its earnings similtaneously its sale to Thoma Bravo, we will straight evaluate its latest outcomes with its newly disclosed sale worth.