Thoma Bravo Completes Acquisition of ForgeRock; Combines ForgeRock into Ping Identity24 August 2023
Thoma Bravo and ForgeRock announced the completion of Thoma Bravo’s acquisition of ForgeRock in an all-cash transaction valued at approximately $2.3 billion. The acquisition agreement was previously announced on October 11, 2022, and approved by ForgeRock stockholders at ForgeRock’s Special Meeting of Stockholders held on January 12, 2023.
Upon completion of the acquisition, ForgeRock stockholders are entitled to receive $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 also announced that it has combined ForgeRock into its portfolio company Ping Identity. The combined company is positioned to better serve customers across the dynamic and fast-growing Identity and Access Management market by providing enhanced products and services, broader geographic support, and increased innovation. The combined company will seek to accelerate the delivery of identity security experiences for the customers, employees, and partners of companies worldwide.
J.P. Morgan acted as exclusive financial advisor to ForgeRock, and Wilson Sonsini Goodrich & Rosati, P.C., acted as legal counsel to ForgeRock. Kirkland & Ellis LLP and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel to Thoma Bravo.
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