A: Ping Identity, the leader in Identity Defined Security, today announced that it has acquired UnboundID Corp., a market leading provider of customer identity and access management (CIAM) software. With the addition of UnboundID’s capabilities, the Ping Identity Platform becomes the industry’s most complete enterprise identity and access management solution. The transaction is being closed for an undisclosed sum. This is the first acquisition by Ping Identity since being acquired by Vista Equity Partners.
A: Ping is acquiring UnboundID to extend its offering in Customer Identity and Access Management (CIAM), a fast growing segment of the larger IAM market that is expected to be over $6.9 billion in 2017. CIAM is an essential part of any digital transformation and customer engagement strategy. With the addition of UnboundID’s capabilities, the Ping Identity Platform becomes the industry’s most complete identity and access management solution: adding a highly scalable user directory for social login, customer preference and profile management to Ping’s existing capabilities of multi-factor authentication, single sign-on and secure access.
The acquisition comes at an exciting time as enterprises have realized owning the consumer relationship is key to their digital transformation strategy and long term competitiveness. Identity management is central to providing both a rich customer experience and the security necessary to build and maintain those relationships.
The combined company provides IAM solutions for the world’s leading companies, including over half of the Fortune 100, and manages over 3 billion identities.
A: Ping is acquiring UnboundID to help enterprises accelerate their digital transformation and improve how they acquire, engage and retain more customers across all channels to drive higher revenues, operational efficiency and long-term customer loyalty. With regards to their customer initiatives, the combined offerings allow enterprises to:
The acquisition will also provide us with scalable enterprise solutions for IoT as well as strengthen our partner identity capabilities to help enterprises better manage their supply chain and other partners’ secure access to applications and data. With Ping, enterprises can continue to partner with a single IAM vendor to transform the digital experiences of their customers, partners and employees.
A: Yes, the two companies have partnered to provide the leading customer identity and access management (CIAM) solution to customers through a reseller agreement in early 2014, and have since been collaborating on product integrations and joint GTM activities including sales, marketing campaigns, conferences/events, and analyst relations.
A: Yes, already 24 leading enterprises across the US, Europe and Asia use a combined solution from UnboundID and Ping to better acquire, engage and retain their customers. Joint customers include Wawa, Cisco, Intuit and Telus. Going forward, these customers will benefit from having access to the joint offerings of two industry leaders, deeper product integration as part of the Ping Identity Platform and from having a single touch point for technical support and account management.
A: Ping Identity is the leader in Identity Defined Security for the borderless enterprise, allowing the right people to access the right things, securely and seamlessly. More than half of the Fortune 100, including Boeing, Cisco, Disney, GE, Kraft Foods, TIAA and Walgreens, trust Ping Identity to accelerate their move to the cloud, deliver a killer customer experience and quickly onboard partners as part of their digital transformation. Protecting over 1.3 billion identities from data centers around the globe, Ping allows employees, customers and partners the freedom to access the cloud and on-premise applications they need with an enterprise IDaaS solution that includes multi-factor authentication, single sign-on and access security.
A: Ping’s capabilities include:
A: UnboundID provides the industry’s leading software for customer identity and access management. Enterprise customers select UnboundID to modernize traditional identity and access management systems, and enable new customer-facing digital business initiatives that provide real-time personalization and delivery of a consistent customer experience across channels and devices. Some of the world’s largest and most demanding companies in financial services, retail, hospitality, telecommunications and healthcare rely on UnboundID to manage and protect their identity and preference data across application portfolios and systems of engagement.
A: UnboundID products work together to help enterprises manage the growing volume and complexity of workforce and customer identity data. Key products include:
A: Ping and UnboundID have complementary market leading technology in the Identity and Access Management space. The combined offering becomes the industry’s most complete identity and access management solution.
There is some overlap between the Ping Directory and UnboundID Data Store products. Ping plans to provide the UnboundID Data Store as a multi-tenant cloud service and integrate it as part of the PingOne Cloud. Timing of the roadmap for the UnboundID Data Store and additional roadmap plans will be finalized in the coming months.
A: Post acquisition, Ping will no longer sell PingOne Cloud Directory Services. However, Ping will continue to maintain and enhance the existing PingOne cloud directory for existing customers while providing them with a migration path to use the UnboundID Data Store as a repository for their identities.
During 2017, Ping will provide a more specific end-of-life (EOL) timeline for PingOne Cloud Directory Services. Existing customers will benefit from the maturity of the UnboundID directory - including its scalability, high levels of availability and performance and rich security features - while maintaining the pricing terms outlined in their agreements with Ping.
A: No, UnboundID will become part of Ping Identity. There will be a transition period as front and back office processes migrate to Ping Identity. We will work together to determine how to update the UnboundID product names to comply with the Ping product naming and brand guidelines during the integration.
A: Steve Shoaff will report into Andre Durand, CEO of Ping, as part of the Ping officer team with two important roles. Effective immediately, Steve will become Ping's Chief Product Officer (CPO) responsible for engineering and product management for the joint Ping and UnboundID offerings.
In addition, Steve will remain the senior executive managing the existing UnboundID team during its transition into Ping. Our plan is to completely integrate the two companies by the end of the year. For now, both companies will continue to operate in a ‘business as usual’ fashion.
A: Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with more than $24 billion in cumulative capital commitments, currently invests in software, data and technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing.
A: Vista acquired Ping Identity in June 2016. Vista’s acquisition of Ping is enabling Ping to accelerate growth and innovation through strategic acquisitions, like UnboundID, and focus investment in its leading enterprise Identity-as-a-Service (IDaaS) solution, the Ping Identity Platform, which places identity at the core of enterprise security.
A: We are not announcing the purchase price but it was an all cash deal to acquire all shares of UnboundID stock.
A: We anticipate the deal closing within the next 2 weeks.
A: There are currently no changes planned to Ping and UnboundID offices.
A: The immediate focus will remain “business as usual.” UnboundID’s business has a great track record of delivering for customers, and that remains Priority #1. Implementation projects in process will continue as scheduled. The UnboundID support organization will stay focused on resolving customer issues. UnboundID will also continue all initiatives with our partners, coordinating with Ping’s partner teams as necessary.
A: This acquisition does not impact any agreements in place today. All terms and commitments are the same.
A: Ping will continue to run the UnboundID business with current planned priorities and roadmap goals. We will also keep customers informed of any additional plans we make and will aim to communicate as timely as we can. Over time, we will integrate the respective sales, support and services organizations. Our focus continues to be on helping our customers maximize the value of their investment in Ping and UnboundID products and services. Working together and keeping each other informed is still our top priority.
A: Please continue to work with your existing Ping and UnboundID and account teams. In the future, there may be some changes to your account team as we integrate the two companies. Those changes will be communicated in a timely manner.
A: We will continue to work in the same way as we always have, with our valued VAR, professional services, system integration, technology, alliances and MSP partners. Ping will continue to run and manage the UnboundID business with its current planned priorities and roadmap goals.
Even though we don’t expect any near-term change, we will keep our partners informed of any future changes that might affect them, in as timely a way as we can. Our focus continues to be on helping all our partners be successful with Ping and our joint customers. Continuing to work effectively together while keeping our partners fully informed is an important priority.