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Thoma Bravo Completes $2.3 Billion ForgeRock Acquisition

The acquisition takes ForgeRock private.

Edward Gately

August 23, 2023

2 Min Read
Thoma Bravo wraps ForgeRock acquisition
Natee Meepian/Shutterstock

Thoma Bravo has completed its $2.3 billion acquisition of ForgeRock and has combined it with Ping Identity.

The private-equity giant announced the acquisition last October, and it was approved by ForgeRock stockholders at ForgeRock’s special stockholders meeting in January. The acquisition takes ForgeRock private.

Last October, Thoma Bravo completed its $2.8 billion acquisition of Ping Identity. That took Ping Identity private.

Upon completion of the acquisition, ForgeRock stockholders get $23.25 in cash for each share of ForgeRock class A common stock and class B common stock they owned. ForgeRock’s class A common stock will no longer trade and will be delisted from the New York Stock Exchange.

Thoma Bravo: Combined Company to ‘Better Serve’ Customers

Thoma Bravo has combined ForgeRock into its portfolio company, Ping Identity. The combined company is positioned to better serve customers across the identity and access management (IAM) market by providing enhanced products and services, broader geographic support and increased innovation, the company said.

Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.

The combined company will seek to accelerate the delivery of identity security experiences for the customers, employees and partners of companies worldwide.

Neither Thoma Bravo nor ForgeRock are commenting on the acquisition.

When the acquisition was announced, Fran Rosch, ForgeRock’s CEO, said the transaction offers a “unique opportunity to create value for all of our stakeholders, and is a clear validation of our team’s outstanding work and the start of an exciting new chapter for ForgeRock, our customers and our partner ecosystem.”

“We are confident that Thoma Bravo’s resources and insights will help us continue to drive innovation in our platform and deliver even more value for customers,” he said.

Thoma Bravo is selling Imperva, a U.S.-based data and application security company, to French multinational company Thales. Other Thoma Bravo cybersecurity acquisitions include Sophos, Proofpoint and Sailpoint Technologies.

Want to contact the author directly about this story? Have ideas for a follow-up article? Email Edward Gately or connect with him on LinkedIn.

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About the Author(s)

Edward Gately

Senior News Editor, Channel Futures

As news editor, Edward Gately covers cybersecurity, new channel programs and program changes, M&A and other IT channel trends. Prior to Informa, he spent 26 years as a newspaper journalist in Texas, Louisiana and Arizona.

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