Thoma Bravo to Acquire ForgeRock in $2.3B DealThoma Bravo to Acquire ForgeRock in $2.3B Deal
This marks the third identity and access management (IAM) company acquired by Thoma Bravo in just the past few months.
October 12, 2022

Private equity firm Thoma Bravo continues its massive multibillion-dollar buying spree in the identity and access management (IAM) space, this time splashing out $2.3 billion in a reportedly all-cash offer for ForgeRock.
ForgeRock went public just a little over a year ago, Reuters pointed out. The San Francisco-based company provides IAM for end consumers, workforce, and Internet of Things (IoT) devices, the company site says.
ForgeRock shareholders will receive $23.25 per share, which represents a premium of about 53.4% to the stock's last closing price on Tuesday. The deal is expected to close in the first half of 2023.
Thoma Bravo is banking on a swelling market for cloud services to drive IAM demand, according to earlier Dark Reading reporting on investors' keen interest in the cybersecurity software sector.
Reuters added that the private equity firm has also expressed interest in Darktrace and Nearmap over the past year.
About the Author(s)
You May Also Like
Hacking Your Digital Identity: How Cybercriminals Can and Will Get Around Your Authentication Methods
Oct 26, 2023Modern Supply Chain Security: Integrated, Interconnected, and Context-Driven
Nov 06, 2023How to Combat the Latest Cloud Security Threats
Nov 06, 2023Reducing Cyber Risk in Enterprise Email Systems: It's Not Just Spam and Phishing
Nov 01, 2023SecOps & DevSecOps in the Cloud
Nov 06, 2023