UnboundID, a market leading provider of customer identity and access management software, to help enterprises improve customer engagement, completed its sale to Ping Identity, the leader in Identity Defined Security. Terms of the transaction were not disclosed. The deal puts Ping Identity, which is owned by Vista Equity Partners, firmly in at the intersection of identity and customer engagement and management. The combined company provides Identity and Access Management solutions for the world’s leading companies, including over half of the Fortune 100, and manages over 3 billion identities. Needham & Company acted as the exclusive financial advisor to UnboundID.
UnboundID provides the industry’s leading software platform for customer identity and access management. Enterprise customers select the UnboundID Platform 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. UnboundID customers consistently report a total cost of ownership savings between 25 to 90 percent relative to legacy directory servers, and the company enjoys a 100% customer renewal rate.