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Report: Vista Equity plans identity-software maker Ping Identity's IPO

Vista Equity Partners LLC tapped Goldman Sachs Group to lead a syndicate for the initial public offering of Ping Identity Corp. that could value the cybersecurity provider at between $2 billion and $3 billion, including debt, Reuters reported, citing anonymous sources with knowledge of the matter.

The unnamed sources said Ping wants to build on its financial performance before launching the offering, which could push the IPO to late 2019 or even 2020, but Vista Equity will keep its options open with buyout offers as well, the Dec. 11 report noted. Vista Equity recently sold marketing software provider Marketo Inc. to Adobe Systems Inc. for $4.75 billion.

Vista Equity and Goldman Sachs did not offer a comment on the matter, while Ping Identity could not immediately be reached, Reuters added.