Thoma Bravo to take software firm ForgeRock private in $2.3 bln deal (updated)

ForgeRock

11/10/2022 13:45

(Adds details on the deal, background, shares)
       Oct 11 (Reuters) - Digital identity management company
ForgeRock  FORG.N  said on Tuesday it will acquired by buyout
firm Thoma Bravo in an all-cash deal valued at about $2.3
billion. 
    ForgeRock shareholders will receive $23.25 for each share
held, which represents a premium of about 53.4% to the stock's
last closing price.
        Shares of ForgeRock jumped 50% to $22.76 in premarket
trade, after having risen 43.2% so far this year.  
        The San Francisco-based company provides identity and
access management solutions for consumers, workforce and
internet of things devices.
        Prior to its public listing in 2021, ForgeRock had
raised over $230 million in growth capital from investors,
including Accel, KKR & Co  KKR.N  and Riverwood Capital. 
    The deal is expected to close in the first half of 2023. 
 (Reporting by Eva Mathews in Bengaluru; Editing by Shailesh
Kuber)
 ((Eva.Mathews@thomsonreuters.com;))