By ET Bureau - October 12, 2022 1 Mins Read
According to a statement from ForgeRock Inc., Thoma Bravo will buy the company for USD 2.3 billion in cash. ForgeRock is valued at USD 23.25 per share under the agreement, which is 53% more than the stock’s Monday closing price. In the first half of 2023, Thoma Bravo expects to complete the acquisition.
Identity management software is offered by San Francisco-based ForgeRock, and it is used by organizations to control how users access their IT infrastructure. More than 1,300 customers, including significant businesses and governmental organizations, use the company’s software. Since the beginning of the year, Thoma Bravo has acquired three publicly traded identity management companies, with ForgeRock being the third. The private equity company announced plans to pay USD 6.9 billion to acquire SailPoint Technologies Holdings Inc. in April.
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