Ping Identity to be bought by Thoma Bravo for $2.4 billion

S Korea takes steps to stabilise local stock markets

Authentication software firm Ping Identity said on Wednesday it would bought by tech investment firm Thoma Bravo for $2.4 billion.

Thoma Bravo will offer $28.50 for each share of Ping Identity, representing a premium of 63 per cent to the company’s last closing price. The offer has an equity value of $2.4 billion, according to Reuters calculation.

The enterprise value of the deal is $2.8 billion.

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