Wednesday, June 1, 2016
Ping Identity Acquired By Vista Equity Partners
Denver-based Ping Identity, the developer of identity management software, which is led by CEO Andre Durand, said this morning that it has agreed to be acquired by private equity investor Vista Equity Partners. Financial terms of the acquisition were not announced. Ping Identity said its annual recurring revenue is expected to reach more than $100M in 2016, after seeing more than 40 percent growth in 2015. Ping Identity was venture backed by Appian Ventures, DFJ Growth Fund, Draper Fisher Jurvetson, General Catalyst Partners, I-Vent, KKR, SAP Ventures, Silicon Valley Bank, Ten Eleven Ventures, Triangle Peak Partners, Volition Capital, and W Capital Partners, and had raised north of $150M in funding. Ping Identity develops single sign-on software used by enterprises for controlling access to applications and other IT resources.