Vista Equity Partners, a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, announced it has exited its investment in Ping Identity, the intelligent identity solution for the enterprise and a Vista portfolio company since 2016, following the completion of the previously announced acquisition of the company for $2.8 billion total enterprise value.
“Vista is proud to have partnered with Andre Durand and the Ping team over the last six years to enhance their products and solutions, strengthen their impressive customer base and grow recurring revenue”
Vista’s June 2016 investment came after the team had carefully researched the broader Identity and Access Management space and spent time establishing a strong relationship with Ping Identity’s founder Andre Durand. Together, Vista and the Ping Identity team fortified Ping’s market leadership through product expansion, increased customer adoption and operational scale, as well as completing six add-on acquisitions.
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During Vista’s ownership, Ping Identity more than tripled its annual recurring revenue, increased its employee headcount from just over 800 to more than 1,200 and strengthened its customer base to now include more than half of the Fortune 100. Ping Identity listed on the New York Stock Exchange in 2019.
“Vista is proud to have partnered with Andre Durand and the Ping team over the last six years to enhance their products and solutions, strengthen their impressive customer base and grow recurring revenue,” said Michael Fosnaugh, Co-Head of the Vista Flagship Fund and Senior Managing Director. “We thank Andre for his steadfast leadership, his entrepreneurial spirit and his commitment in supporting the Vista ecosystem at large and wish him and his talented team of PingIdentians the best of luck as they continue to build on their mission-critical platform securing the global enterprise.”
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About Vista Equity Partners
Vista is a leading global investment firm with $94 billion in assets under management as of June 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees.
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