Bates White expert supports Thoma Bravo in its acquisition of ForgeRock
Thoma Bravo, a private equity firm, sought to acquire ForgeRock, an identity and access management software company, for $2.3 billion. Thoma Bravo already owned Ping, another software company operating in this space. Identity and access management software helps companies verify customer and employee identities before they access the companies’ data and resources. The Department of Justice (DOJ) opened an investigation and issued a Second Request to review the combination. Thoma Bravo retained Nicholas Hill to provide analyses of market definition and competition. Bates White also assisted Thoma Bravo in responding to the data-intensive portions of DOJ’s Second Request. Following compliance with the Second Request and advocacy presented on behalf of the parties, the DOJ decided not to challenge the merger.