Thoma Bravo To Buy ForgeRock For $2.3 Bln; Stock Up

(RTTNews) - ForgeRock, Inc. (FORG), an identity and access management software company, said on Tuesday that it has inked a deal which allows Thoma Bravo, a software investment company, to acquire it for around $2.3 billion or $23.25 per share in cash.

The transaction, which will take ForgeRock private, is scheduled to be closed in the first half of 2023.

The offer price is a premium of around 53 percent over ForgeRock's closing share price on October 10, and 44 percent over the volume weighted average price of ForgeRock stock for the 30 days ending on the same day.

FORG is trading up by 49.41 percent at $22.65 per share on the New York Stock Exchange.