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FGS Global represents private equity firm Thoma Bravo as it agrees to buy ForgeRock digital identity platform for $2.3B.
The all-cash $23.25 per share offer is a 53 percent premium over ForgeRock’s Oct. 10 closing stock price.
Chip Virnig, Thoma Bravo partner, said identity-centric cybersecurity solutions are critical enablers for businesses to transform their operations and ForgeRock has the tools that “combine both the advanced security and customer usability needed in the market.”
ForgeRock posted $48M in revenues and a $22M loss for the June 30-ended quarter.
CEO Fran Rosch blamed the lackluster performance on an “uncertain macro environment [which] has presented us with challenges such as longer deal cycles and FX headwinds.’
FGS Global has Liz Micci and Nicky Bryan represents Thoma Bravo, which has $122B in assets under management.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
