Ping Identity Soars as Thoma Bravo Buying Software Company for $2.8 Billion

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Updated Aug. 3, 2022 11:09 am ET / Original Aug. 3, 2022 7:57 am ET

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Shares of Ping Identity Holding skyrocketed on Wednesday following news that the company would be taken private by investment firm Thoma Bravo for $2.8 billion.

Thoma Bravo will pay $28.50 a share in an all-cash transaction, presenting a premium of about 63% over Ping Identity’s (ticker: PING ) closing share price on Tuesday.

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