Thoma Bravo acquires ForgeRock for $2.3bn
Software-focused private equity firm Thoma Bravo has completed the acquisition of ForgeRock, the digital identity software platform, for approximately $2.3 billion in an all-cash transaction.
Thoma Bravo acquires ForgeRock in $2.3bn deal
On completion of the acquisition, ForgeRock shareholders will receive $23.25 in cash for each share, for both class A and class B common stock, with ForgeRock’s class A common stock to be delisted from the New York Stock Exchange, taking it private.
Thoma Bravo says it will also merge ForgeRock with its portfolio company, Ping Identity, a digital identity solutions provider, which Thoma Bravo acquired last year for a sum of $2.4 billion.
“The combined company is positioned to better serve customers across the dynamic and fast-growing identity and access management market by providing enhanced products and services, broader geographic support, and increased innovation,” Thoma Bravo says in a statement.
“The combined company will seek to accelerate the delivery of identity security experiences for the customers, employees, and partners of companies worldwide.”
The news of the acquisition follows anti-trust lawyers from the US Department of Justice launching a probe into the deal, over concerns it would harm competition in the identity and access management software sector. However, the acquisition powered through after the DoJ declined to challenge the deal.
