(Reuters) -Digital identity management company ForgeRock said on Tuesday it will acquired by buyout firm Thoma Bravo in an all-cash deal valued at about $2.3 billion.
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.
Shares of ForgeRock jumped 50% to $22.76 in premarket trade, after having risen 43.2% so far this year.
The San Francisco-based company provides identity and access management solutions for consumers, workforce and internet of things devices.
Prior to its public listing in 2021, ForgeRock had raised over $230 million in growth capital from investors, including Accel, KKR & Co and Riverwood Capital.
The deal is expected to close in the first half of 2023.
(Reporting by Eva Mathews in Bengaluru; Editing by Shailesh Kuber)
