FORG - Thoma Bravo acquires ForgeRock for $23.25 per share in cash
- ForgeRock ( NYSE: FORG ) to be acquired by Thoma Bravo, a software investment firm, for $23.25 per share, in an all-cash transaction valued at approximately $2.3B.
- The offer represents a premium of approximately 53% over company’s closing share price on October 10, 2022 and a premium of approximately 44% over the volume weighted average price of stock for the 30 days ending October 10, 2022.
- The transaction is expected to close in the first half of 2023.
- Upon closing, ForgeRock’s common stock will no longer be publicly listed and ForgeRock will become a privately held company.
- “We are pleased to partner with Thoma Bravo to build on the strength of our comprehensive platform,” said Fran Rosch, ForgeRock’s Chief Executive Officer. “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.”
- ForgeRock to release its Q3 results on November 9, 2022.
- FORG shares up 3% PM.
For further details see:
Thoma Bravo acquires ForgeRock for $23.25 per share in cash