Thoma Bravo, a software-focused private equity firm, has successfully acquired ForgeRock, a digital identity software platform, for approximately $2.3 billion in an all-cash transaction.
Facts
- Thoma Bravo acquired ForgeRock for $2.3 billion in an all-cash deal.
- ForgeRock shareholders received $23.25 in cash for each share, leading to the delisting of ForgeRock’s class A common stock from the NYSE.
- Thoma Bravo plans to merge ForgeRock with Ping Identity, another digital identity solutions provider it acquired for $2.4 billion the previous year.
- The merger aims to enhance products, broaden geographic support, and boost innovation in the identity and access management market.
- The combined company’s goal is to expedite the delivery of identity security solutions globally.
- The acquisition faced a Department of Justice probe over antitrust concerns but proceeded after the DoJ decided not to challenge it.
