Thoma Bravo Acquires ForgeRock

ForgeRock is set to be acquired by private equity firm Thoma Bravo in a $2.3 billion all-cash transaction. The acquisition in the first half of 2023.

ForgeRock provides identity management software that organizations use to regulate how users access their technology infrastructure. The company’s software is used by more than 1,300 customers, including major enterprises and government agencies.

ForgeRock’s solution can be used to process application login requests from customers. ForgeRock eases the task of implementing features such as multifactor authentication and passwordless login support.

ForgeRock offers tools that automate tasks such as provisioning application access for new employees. Its software enables administrators to find and remove unused employee accounts.

Its third major focus area is helping companies manage their connected devices. ForgeRock offers tools that enable companies to limit which device can access what part of the network and how, as well as automate several related cybersecurity tasks.

ForgeRock is the third publicly traded identity management provider that Thoma Bravo has acquired since the start of the year.

In April, Thoma Bravo acquired SailPoint Technologies for $6.9 billion. Thoma Bravo in August inked a deal to acquire SailPoint rival Ping Identity for $2.8 billion.

ForgeRock, SailPoint and Ping Identity together generated more than $250 million in revenue during the second quarter ended June 30.