Sapphire Ventures has celebrated an exit following the acquisition of portfolio company Ping Identity by Vista Equity Partners.
Private equity firm Vista Equity Partners agreed to acquire US-based cloud security company Ping Identity yesterday, providing an exit to backers including Sapphire Ventures, the VC firm spun out of software company SAP.
Financial terms have not been revealed. The deal is expected to close in the third quarter of 2016.
Ping Identity’s cloud-based platform enables identity management for businesses and governments. The company will accelerate its growth through strategic acquisitions and further investments in the platform following the acquisition.
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