Forgerock is set to become a privately held company after the digital identity firm agreed to a $2.3bn takeover by buyout firm ThomaBravo.
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.
Fran Rosch, ForgeRock’s CEO, said: “The transaction offers an 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.”
The deal is expected to close in the first half of next year, subject to customary closing conditions including approval from ForgeRock shareholders.
