Private equity firm Thoma Bravo has announced its plans to merge recently acquired ForgeRock with Ping Identity, creating a powerhouse in the enterprise identity and access management market. The announcement coincided with Thoma Bravo’s completion of a $2.3 billion all-cash deal to add ForgeRock to its extensive cybersecurity portfolio.
Thoma Bravo acquired Ping Identity for $2.8 billion last year, and now aims to combine the former competitors into a single entity that will better serve customers in the rapidly growing Identity and Access Management market. The merged company aims to provide enhanced products and services, broader geographic support, and increased innovation, according to a statement from Thoma Bravo.
The private equity firm has made significant investments in the enterprise identity and access management market, with acquisitions such as SailPoint for $6.9 billion, Proofpoint for $12 billion, and Sophos in a $3.9 billion deal. This consolidation comes at a crucial time for incumbents in the identity category, as venture capital investors are funding new ideas that aim to disrupt the IGA and identity and access management market.
Overall, Thoma Bravo’s plan to merge ForgeRock and Ping Identity will create a formidable player in the enterprise identity and access management market, and the company aims to accelerate the delivery of identity security experiences for customers worldwide.
