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Keyri has announced a new integration with Ping Identity (NYSE: PING) to enhance user login experiences through QR code-based passwordless authentication. This partnership utilizes PingOne DaVinci, a no-code identity orchestration service, enabling customers to transform their login into a seamless biometrics-based process. Keyri's lightweight integration aims to improve account security while boosting customer conversion rates. The partnership addresses increasing fraudulent activities, emphasizing security without compromising user experience.
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Acuant, a GBG company, has announced a new integration with Ping Identity (NYSE: PING) to enhance its Know Your Customer (KYC) solutions using PingOne DaVinci, a no-code identity orchestration service. This partnership aims to customize identity proofing for various industries, enabling faster and more secure transactions. The integration leverages Acuant's advanced identity verification and regulatory compliance solutions, allowing businesses to improve risk management while enhancing customer experience.
HUMAN Security Inc. has announced a partnership with Ping Identity (NYSE: PING) to enhance bot detection and authentication processes using PingOne DaVinci. This integration allows real-time decisions on user interactions, improving security against bot-driven cyberattacks, which account for 77% of all cyber threats. HUMAN's technology will enable quick, seamless user access while blocking malicious bots. This collaboration also aims to elevate customer experience and reduce implementation time.
Ping Identity (NYSE: PING) has announced its acquisition by Thoma Bravo for $28.50 per share, valuing the transaction at approximately $2.8 billion. This offer represents a 63% premium over the closing price on August 2, 2022. The deal, unanimously approved by the board, is expected to close in Q4 2022, subject to customary conditions. Post-transaction, Ping will become a privately held company, retaining its Denver headquarters. The merger emphasizes Ping's leadership in enterprise identity solutions and potential growth in a $50 billion market.
Ping Identity announced its financial results for Q2 2022, showing a 22% year-over-year growth in Annual Recurring Revenue (ARR) to $341.0 million, driven by a 69% increase in SaaS revenue. Total revenue reached $72.0 million, with 92% derived from subscriptions. The company also revealed a definitive agreement to be acquired by Thoma Bravo for $28.50 per share, valued at approximately $2.8 billion. This transaction is expected to close in Q4 2022, after which Ping Identity will become privately held.
Daon announces a strategic integration with Ping Identity (NYSE: PING) to enhance customer identity management using PingOne DaVinci, a no-code identity orchestration service. This partnership aims to provide a seamless identity experience across various engagement channels, leveraging Daon's biometric authentication capabilities. The new Daon connector allows PingOne DaVinci users to implement multi-factor authentication via mobile devices, ensuring secure user journeys. This collaboration reflects both companies' commitment to improving digital security and user experience.
Arkose Labs has partnered with Ping Identity to enhance fraud prevention through a new integration with PingOne DaVinci, a no-code identity orchestration service. This alliance aims to mitigate bot and human-led fraud during account registration and login processes, addressing the rise of fraudsters, which has surged by 10x since 2019. The partnership boasts a 90%+ improvement in bot detection and a reduction in dependence on multi-factor authentication (MFA). This integration fosters a secure ecosystem while ensuring a seamless user experience.
Ping Identity (NYSE: PING) has partnered with Flinks, an open banking platform, to enhance financial data connectivity for millions of customers in the U.S. and Canada. By utilizing Ping Identity's solutions, including PingFederate and PingDirectory, Flinks improves user experience in securely linking financial accounts to fintech apps. This collaboration allowed Flinks to launch its new solution in just six months, facilitating customer consent and data security, critical for open banking.
Ping Identity will announce its Q2 2022 financial results on August 3, 2022, post-market close. A conference call will follow at 5:00 p.m. ET to discuss the results. Investors can register for the telephonic version of the call in advance. A replay will be available until August 10, 2022. The company is recognized for its Intelligent Identity solutions, serving numerous Fortune 100 companies, and focuses on enhancing identity-defined security and user experiences across various platforms.