Thoma Bravo to acquire software company ForgeRock in all-cash deal of $2.3 billion

The decision was made amid a rise in private equity takeovers as the value of publicly listed technology companies declined due to a general stock market selloff caused by increasing inflation and tighter monetary policy.

Shareholders of ForgeRock will receive $23.25 per share, representing a premium of almost 53.4% over the stock's most recent closing price.






ForgeRock's stock price rose by 50% to $22.76 before the opening bell. Compared to its IPO price of $25 per share, ForgeRock has lost more than 43% of its value this year.

Companies like ForgeRock, which provide tools and software to resist such threats, have seen rapid growth as demand for digital security solutions has increased due to the widespread use of remote work and an uptick in cyberattacks on companies during the epidemic.

Companies like ForgeRock, which provide tools and software to resist such threats, have seen rapid growth as demand for digital security solutions has increased due to the widespread use of remote work and an uptick in cyberattacks on companies during the epidemic.

Before its IPO in 2021, ForgeRock had raised over $230 million in growth capital from investors, including Riverwood Capital.

The expected closing date of the deal is the first half of 2023.

FAQ

What is ForgeRock?
ForgeRock helps healthcare organizations modernize their identity, governance, and access management by delivering a comprehensive, AI-driven platform suitable for all identities and use cases.

Is ForgeRock an identity provider?
ForgeRock is an innovative, comprehensive, and leading provider of digital identities.