Only a few months ago the news broke that Vista Equity Partners had acquired identity management vendor Ping Identity for around $600 million. The private equity buyout is one which, in these IPO-constrained times, has seen increasing interest. With the sale, eyes turned toward Ping to see how it would deliver the growth and quick wins that its new overlords would, no doubt, demand.
Ping had already seen good traction — it claims half of the Fortune 100 as customers and has such marques as Boeing, Cisco, Disney, GE, Kraft Foods, TIAA and Walgreens on its books. But private equity wants more, and so the pressure was on Ping to deliver.
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