Entertainment
What does $2.8B buy you in today’s market?
News that private equity group Thoma Bravo is buying Ping Identity for $2.8 billion in cash broke earlier today, marking the beginning of the end of Ping’s life as a public company (at least for now).
Thoma Bravo will pay $28.50 per share in an all-cash transaction, a price that TechCrunch noted is a roughly 63% premium over the company’s pre-announcement share price. News of the sale emerged after Ping reported earnings that missed both profit and revenue estimates in the second quarter.
Given that M&A activity has been muted compared to 2021’s torrid pace, the deal is attracting attention. To better understand the transaction, we’re going to dive into Ping’s numbers to see what its sale price can tell us about the value of software companies today, and then riff on the identity market itself, part of the technology space with several public players and a recent history of falling values.
What $2.8B buys you today
Given that Ping announced its earnings at the same time as its sale to Thoma Bravo, we can directly compare its recent results with its newly disclosed sale price.
-
Business7 days ago
Women in AI: Rep. Dar’shun Kendrick wants to pass more AI legislation
-
Entertainment4 days ago
‘Furiosa: A Mad Max Saga’ review: George Miller’s blazing action folktale might just have outdone ‘Fury Road’
-
Business6 days ago
Healthy growth helps B2B food e-commerce startup Pepper nab $30 million led by ICONIQ Growth
-
Entertainment5 days ago
‘House of the Dragon’ Season 2 trailer breakdown: Dragons, Rook’s Rest, and more
-
Entertainment4 days ago
Sex education is under threat in the UK. What’s going on?
-
Business4 days ago
Orange Charger thinks a $750 outlet will solve EV charging for apartment dwellers
-
Business4 days ago
Senate study proposes ‘at least’ $32B yearly for AI programs
-
Entertainment6 days ago
Apple iPad Pro 2024 (13-inch) review: The battery life is bonkers