Software buyout firm Thoma Bravo has agreed a $2.3 billion all-cash deal to take ForgeRock private just over a year after the digital identity management company went public, according to a report by Reuters.
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. The company’s stock has been trading well below its $25 per share IPO price having fallen over 43% so far in 2022.
Prior to its public listing in 2021, ForgeRock had raised over $230 million in growth capital from investors, including Accel, KKR & Co and Riverwood Capital.
Read more: Private Equity Wire
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.