ForgeRock to Be Bought by Thoma Bravo in $2.3 Billion Cash Deal

ForgeRock Inc., a maker of identity-verification software, said it will be acquired by Thoma Bravo in an all-cash deal valued at about $2.3 billion.

The San Francisco-based company’s investors will receive $23.25 in cash and the deal is expected to close in the first half of 2023, the company said in a statement Tuesday.

ForgeRock completed its initial public offering in September last year, selling 11 million shares for $25 each after marketing them for $21 to $24. The stock has slumped since, and closed Monday at $15.16. The offer represents a 53% premium over that closing price.

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