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☆ Thoma Bravo closes $2.3 bln deal to take software firm ForgeRock private
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: 1 min

Aug 23 (Reuters) - Tech-focused private equity Thoma Bravo said on Wednesday it has closed its $2.3 billion all-cash deal to acquire identity and access management software firm ForgeRock (FORG.N). The company said it has merged the cybersecurity firm with Ping Identity, which it had acquired last year for $2.4 billion. Thoma Bravo agreed to buy ForgeRock for $23.25 per share in October and had said it expected the deal to close in the first half of 2023. ForgeRock late last year received notice from the U.S. Department of Justice (DoJ) for more information on the deal. Reporting by Akash Sriram in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Thoma Bravo, Ping, ForgeRock, Akash Sriram, Arun Koyyur Organizations: U.S . Department of Justice, DOJ, Bloomberg, Thomson Locations: Bengaluru

Signage and cars are displayed in honor of SentinelOne, a cybersecurity firm’s IPO, outside the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2021. SentinelOne has hired investment bank Qatalyst Partners to advise on discussions with potential acquirers, including private equity firms, the sources said. Private equity firms have been prolific investors in the cybersecurity sector. In November 2021, an investor consortium led by private equity firm Advent International acquired McAfee Corp for $14 billion. Tech-focused private equity firm Thoma Bravo has also been a serial acquirer in the sector, having bought Ping Identity, ForgeRock, Sailpoint Technologies and Magnet Forensics Inc, among others.

Persons: Brendan McDermid, SentinelOne, Qatalyst, SentinelOne's, Daniel Loeb's, Morgan Stanley, Thoma, Milana Vinn, Anirban Sen, Conor Humphries, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, SentinelOne, Qatalyst Partners, CrowdStrike Holdings, U.S ., Tiger Global, Sequoia Capital, Insight Partners, Redpoint Ventures, Advent International, McAfee Corp, Tech, Thoma Bravo, Sailpoint Technologies, Magnet Forensics, Thomson Locations: New York City, U.S, View , California, New York, Israel, cybersecurity

☆ Buyout barons reach deep into their bags of tricks
▼ + stars: | 2023-02-15 | by ( Jonathan Guilford | ) www.reuters.com time to read: +7 min

NEW YORK, Feb 15 (Reuters Breakingviews) - Debt necessity is proving to be the mother of private equity invention. With the cheap borrowing that fueled record-breaking years of leveraged buyouts gone, firms are digging deeper into their bags of tricks. Private equity firm Silver Lake, which bought a stake alongside the IPO, said it might take control. Besides putting private equity firms into weaker negotiating positions, the competing incentives also threaten conflicts of interest with limited partners. ...THERE’S A WAYIf the U.S. Federal Reserve avoids engineering a recession, private equity should be able to revert to its tried-and-true formula soon enough.

☆ Capital One Job Cuts Signal Trouble for IT Labor Market
▼ + stars: | 2023-01-21 | by ( Belle Lin | ) www.wsj.com time to read: +5 min

Technology sector employment overall has remained stable, but job postings for future tech hiring have declined for the second consecutive month, according to IT trade group CompTIA. Companies across industries hired 137,000 tech workers in December, compared with 130,000 the month prior, CompTIA estimates based on an analysis of U.S. Labor Department data. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. News of the job cuts was reported earlier by Bloomberg. Some employers might be shedding the additional technology workers they hired to ramp up remote-work capabilities during the early days of the Covid-19 pandemic, said Mark Muro, a senior fellow at Brookings Institution.

☆ CIOs in 2023 Want to Know: Who’s Got Talent?
▼ + stars: | 2022-12-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

As the information technology talent gap continues into 2023, chief information officers are augmenting recruiting efforts with new models like upskilling, job sharing and rotations as well as raising salaries and offering perks to retain workers. Some also believe the shifting economy could make it easier to fill vacancies, although the short term talent market remains challenging. “It’s been a source of should we, not deprioritize, but re-sequence the work that we’re doing,” Kroger CIO Yael Cosset said of the talent shortage. Duke Energy is developing certification curricula and joining with software companies on education programs to help internal talent learn new skills, said CIO Bonnie Titone. SHARE YOUR THOUGHTS What do you think CIOs can do to find and retain talent in 2023?

☆ Here are the 34 tech companies most likely to be snapped up by private equity firms like Vista and Thoma Bravo in 2023, according to bankers and market data
▼ + stars: | 2022-12-24 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com time to read: +22 min

With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.

☆ Here are the 34 tech companies most likely to be on the holiday shopping lists of private-equity firms after valuations plunged this year, according to bankers and private data
▼ + stars: | 2022-12-15 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com time to read: +22 min

☆ Thoma Bravo to take software firm ForgeRock private in $2.3 bln deal
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Oct 11 (Reuters) - ForgeRock (FORG.N) said on Tuesday it will be acquired by buyout firm Thoma Bravo in an all-cash deal valued at about $2.3 billion, just over a year after the digital identity management company went public. 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. Register now for FREE unlimited access to Reuters.com RegisterShares of ForgeRock jumped 50% to $22.76 before the bell. San Francisco-based ForgeRock provides identity and access management solutions for consumers, workforce and internet of things devices. Register now for FREE unlimited access to Reuters.com RegisterReporting by Eva Mathews in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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