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Thoma Bravo to Take IAM Firm ForgeRock Personal in $2.Three Billion Deal

By Eduard Kovacs on October 12, 2022

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Personal fairness agency Thoma Bravo introduced on Tuesday that it has entered a definitive settlement to amass identification and entry administration (IAM) options supplier ForgeRock (NYSE: FORG) for $2.Three billion in money.

Thoma Bravo is ready to pay $23.25 per share for ForgeRock, which represents a 53% premium over the corporate’s closing share worth on October 10, and a premium of 44% over the quantity weighted common worth of the corporate’s inventory for the 30 days main as much as October 10.

The transaction is predicted to shut within the first half of 2023. ForgeRock will change into a privately held firm and its inventory will not be publicly listed.

ForgeRock’s identification safety and administration platform gives orchestration, entry management and governance capabilities. The corporate says its options are utilized by greater than 1,300 organizations.

In its monetary report for the second quarter of 2022, ForgeRock introduced an ARR of $201 million, a income of $47 million, and working and web losses of roughly $22 million.

That is the third identity-related multi-billion-dollar cybersecurity deal introduced by Thoma Bravo this yr. In April, it introduced shopping for SailPoint for $6.9 billion and in August it introduced the acquisition of Ping Id for $2.eight billion.

This yr it additionally bought Barracuda Networks to funding large KKR, reportedly for $Four billion.

Associated: Personal Fairness Agency Permira to Purchase Mimecast in $5.eight Billion Deal

Associated: Thoma Bravo to Purchase Sophos for $3.9 Billion

Associated: PE Agency Thoma Bravo Buys Majority Stake in Centrify

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