Private equity firm Thoma Bravo LP said on Tuesday it reached a definitive agreement to acquire identity and access management software company ForgeRock in an all-cash deal worth approximately $2.3 billion, or $23.25 per share.
"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," Chip Virnig, a partner at Thoma Bravo, stated.
The transaction has been approved by ForgeRock's board of directors and is now subject to customary closing conditions and regulatory approvals. The deal is expected to be completed in the first half of 2023.
