Thoma Bravo closes $2.3bn acquisition of digital identity firm ForgeRock

Thoma Bravo has announced the successful completion of its acquisition of global digital identity company ForgeRock. The all-cash transaction, valued at an eye-popping $2.3 billion, is set to shake up the dynamic and fast-growing Identity and Access Management market. Initially announced on October 11, 2022, the acquisition received the green light from ForgeRock stockholders during a Special Meeting held on January 12, 2023.

ForgeRock Stockholders to Receive $23.25 in Cash per Share

ForgeRock’s stockholders are walking away with a sweet deal, entitled to receive $23.25 in cash for each share of both class A and class B common stock they own. With the acquisition’s completion, ForgeRock’s Class A common stock will be delisted from the New York Stock Exchange, making it a turning point in the company’s history.

ForgeRock: A Leading Force in Digital Identity Solutions

Specializing in digital identity solutions, ForgeRock has been instrumental in enabling people to access the connected world safely and effortlessly. The company’s robust identity platform provides scalable, enterprise-grade solutions for customers, employees, and even connected devices. Utilized by over 1,300 organizations, ForgeRock’s platform manages and secures identities with advanced features like identity orchestration, dynamic access controls, governance, and APIs in any cloud or hybrid environment.

ForgeRock Merges with Ping Identity for Enhanced Capabilities

In a strategic follow-up move, Thoma Bravo has combined ForgeRock with its portfolio company, Ping Identity. The amalgamated entity aims to better serve customers across the Identity and Access Management market by offering enhanced products, broader geographic support, and increased innovation. Both companies will focus on accelerating the delivery of identity security experiences worldwide.

Advisors and Legal Counsels in the Deal

J.P. Morgan acted as the exclusive financial advisor to ForgeRock during this acquisition. On the legal front, Wilson Sonsini Goodrich & Rosati, P.C. represented ForgeRock, while Kirkland & Ellis LLP and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsels to Thoma Bravo.

This monumental acquisition underscores Thoma Bravo’s commitment to expanding its footprint in the digital identity and access management arena, setting the stage for a more secure and interconnected world. Stay tuned for more updates on how this business behemoth plans to innovate and disrupt the industry.