Wednesday, June 1, 2016
Vista Equity Partners Buys Ping Identity
Austin-based private equity investor Vista Equity Partners is on an acquisition roll this week, saying today that it has acquired Ping Identity, a developer of identity management software based in Denver. Financial terms of the acquisition were not announced. Ping Identity said it is expected to have more than $100M in annual recurring revenues by the end of the year. 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 more than $150M in funding. The acquisition is the second in as many days for Vista Equity, which just announced a giant, $1.7 billion go-private buyout of marketing software developer Marketo.