San Francisco-based ForgeRock is a global digital identity leader helping people simply and safely access the connected world. The company says its Identity Platform delivers enterprise-grade identity solutions at scale for customers, employees, and connected devices. More than 1,300 organisations depend on ForgeRock’s comprehensive platform to manage and secure identities with identity orchestration, dynamic access controls, governance, and APIs in any cloud or hybrid environment.
Latest deal follows acquisition of cybersecurity giants
Last week ForgeRock announced it had entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, for $23.25 per share.
“We are pleased to partner with Thoma Bravo to build on the strength of our comprehensive platform,” said Fran Rosch, ForgeRock’s Chief Executive Officer. “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.”
“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,” said Chip Virnig, a Partner at Thoma Bravo. “We look forward to partnering with ForgeRock to leverage our deep sector expertise and support the company to capitalise on this tremendous market opportunity.”
As reported by the Reuters news agency, prior to its public listing in 2021, ForgeRock had raised over US$230mn in growth capital from investors, including Accel, KKR & Co (KKR.N) and Riverwood Capital.
The transaction, which was unanimously approved by the ForgeRock Board of Directors, is currently expected to close in the first half of 2023, subject to customary closing conditions, including approval by ForgeRock’s shareholders and the receipt of required regulatory approvals.
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