PE Deals

Thoma Bravo completes take-private acquisition of ForgeRock for $2.3bn

According to terms of the deal, ForgeRock stockholders will receive $23.25 in cash for each share they own.

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  • As a result of the closing, ForgeRock will no longer trade on the New York Stock Exchange
  • Also, Thoma Bravo has merged ForgeRock into its portfolio company Ping Identity, a Denver-based cybersecurity software firm
  • J.P. Morgan acted as financial advisor to ForgeRock

Thoma Bravo has closed its previously announced take-private buyout of San Francisco-based software firm ForgeRock for about $2.3 billion. According to terms of the deal, ForgeRock stockholders will receive $23.25 in cash for each share they own.

As a result of the closing, ForgeRock will no longer trade on the New York Stock Exchange.

Also, Thoma Bravo has merged ForgeRock into its portfolio company Ping Identity, a Denver-based cybersecurity software firm.

J.P. Morgan acted as financial advisor to ForgeRock, and Wilson Sonsini Goodrich & Rosati, P.C., acted as legal counsel to ForgeRock. Kirkland & Ellis LLP and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel to Thoma Bravo.

Thoma Bravo targets software companies. The firm has $127 billion in assets under management as of March 31, 2023.