Thoma Bravo-backed Ping Identity completed the acquisition of ForgeRock from KKR for $2.3bn.

Thoma Bravo-backed Ping Identity, a provider of cloud-based identity management software for companies and government organizations, completed the acquisition of ForgeRock, a global digital identity company helping people simply and safely access the connected world, from KKR, a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit, with strategic partners that manage hedge funds, for $2.3bn. “Identity-centric cybersecurity solutions are a critical enabler for businesses to digitally transform their operations, and ForgeRock’s solutions combine both the advanced security and customer usability needed in the market. We look forward to partnering with ForgeRock to leverage our deep sector expertise and support the company to capitalize on this tremendous market opportunity,” Chip Virnig, Thoma Bravo Partner.