Thoma Bravo to take software firm ForgeRock private for $2.3bn

The deal is expected to close in the first half of 2023.

  • When the transaction is completed, ForgeRock will no longer trade on the New York Stock Exchange
  • J.P. Morgan is acting as financial advisor to ForgeRock while Wilson Sonsini Goodrich & Rosati, P.C. is acting as legal counsel
  • Kirkland & Ellis LLP is acting as legal counsel to Thoma Bravo

Thoma Bravo has agreed to acquire San Francisco-based software firm ForgeRock in a take-private deal for about $23.25 per share or about $2.3 billion. The deal is expected to close in the first half of 2023.

When the transaction is completed, ForgeRock will no longer trade on the New York Stock Exchange.

“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 a partner at Thoma Bravo, in a statement. “We look forward to partnering with ForgeRock to leverage our deep sector expertise and support the company to capitalize on this tremendous market opportunity.”

J.P. Morgan is acting as exclusive financial advisor to ForgeRock while Wilson Sonsini Goodrich & Rosati, P.C. is acting as legal counsel. Kirkland & Ellis LLP is acting as legal counsel to Thoma Bravo.

Thoma Bravo has more than $122 billion in assets under management as of June 30, 2022. Over the past 20 years, the firm has acquired or invested in more than 400 companies representing over $220 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco.