Thoma Bravo acquisition of ForgeRock : Software investment firm Thoma Bravo has signed an agreement to acquire global digital identity company ForgeRock in a deal worth approximately $2.3 billion.

Under the terms of the agreement, ForgeRock shareholders will be paid $23.25 per share, which represents a premium of approximately 53% over the company’s closing share price on 10 October 2022.

ForgeRock is engaged in digital identity solutions to allow people to simply and safely access the connected world.

Its identity platform provides enterprise-grade identity solutions at scale for customers, employees, and connected devices.

The platform is leveraged by over 1,300 organizations to manage and secure identities with identity orchestration, dynamic access controls, governance, and APIs in any cloud or hybrid environment.

Fran Rosch – ForgeRock CEO, commenting on Thoma Bravo acquisition of ForgeRock, said: “We are pleased to partner with Thoma Bravo to build on the strength of our comprehensive platform.

“The transaction offers a unique opportunity to create value for all of our stakeholders and is a clear validation of our team’s outstanding work and the start of an exciting new chapter for ForgeRock, our customers, and our partner ecosystem.

“We are confident that Thoma Bravo’s resources and insights will help us continue to drive innovation in our platform and deliver even more value for customers.”

Upon completion of the transaction, ForgeRock will become a privately held company.

Commenting on Thoma Bravo acquisition of ForgeRock, Chip Virnig — a Partner at Thoma Bravo, said: “Identity-centric cybersecurity solutions are a critical enabler for businesses to digitally transform their operations, and ForgeRock’s solutions combine both the advanced security and customer usability needed in the market.

“We look forward to partnering with ForgeRock to leverage our deep sector expertise and support the company to capitalize on this tremendous market opportunity.”

Subject to customary closing conditions, including the receipt of regulatory approvals, Thoma Bravo acquisition of ForgeRock is expected to be completed in the first half of 2023.

J.P. Morgan is serving as the exclusive financial advisor to ForgeRock on the transaction, while Wilson Sonsini Goodrich & Rosati, is its legal counsel. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo.

  Chip Virnig, cybersecurity, ForgeRock, Fran Rosch, Thoma Bravo, USA, Wilson Sonsini Goodrich & Rosati