ForgeRock, Inc. - FORG STOCK NEWS

ForgeRock (NYSE: FORG) has been recognized as a Leader in the Forrester Wave™ for Customer Identity and Access Management (CIAM), Q4 2022. The evaluation highlighted the platform's strengths in areas such as data orchestration, customer identity verification, and authentication methods. Forrester noted the platform’s ability to handle complex workflows, catering to organizations with internal CIAM expertise. ForgeRock aims to enhance customer loyalty and reduce fraud through its solutions, which are relied on by notable brands like Pearson and Toyota.

ForgeRock (NYSE: FORG), a leader in digital identity, has been named a Leader in the 2022 Gartner Magic Quadrant for Access Management for the third consecutive year. This achievement reflects ForgeRock's completeness of vision and ability to execute, as highlighted by Gartner's evaluation of nine vendors. The company emphasizes the importance of identity in accessing the digital world and continues to enhance its CIAM solution. With a growing market demand, ForgeRock serves major clients across various sectors, showcasing its competitive edge in providing comprehensive identity solutions.

ForgeRock, a leader in digital identity solutions, has been recognized for its excellence in Passwordless Authentication by KuppingerCole. The company achieved an 'Overall Leadership' position due to its advanced access management, modern architecture, and strong orchestration capabilities. Furthermore, ForgeRock was highlighted for its innovative product offerings in security functionality and its extensive partner ecosystem. With 50% of data breaches attributed to password-related issues, ForgeRock's passwordless solutions enhance IT security significantly.

ForgeRock (NYSE: FORG) has agreed to be acquired by Thoma Bravo for $23.25 per share, valuing the deal at approximately $2.3 billion. This acquisition represents a 53% premium over ForgeRock's closing price on October 10, 2022. Upon closing, expected in the first half of 2023, ForgeRock will transition to a privately held company. J.P. Morgan serves as the financial advisor to ForgeRock, while Thoma Bravo collaborates with its deep expertise to enhance ForgeRock's market position.

ForgeRock has been recognized as an overall leader in Customer Identity and Access Management (CIAM) platforms by KuppingerCole for the third consecutive year. This accolade highlights ForgeRock's ability to deliver enterprise-grade CIAM solutions that enhance the customer experience while ensuring data security. The company manages over 4 billion identities and supports more than 60,000 transactions per second, making it a key player in the market. ForgeRock also received accolades for its innovation, product offerings, and market leadership in areas like authentication and identity analytics.

ForgeRock, Inc. (NYSE: FORG) has launched its next generation identity orchestration capabilities to enhance customer and employee experiences with AI-driven security. This update introduces Intelligent Access Trees, offering a no-code solution for seamless digital interactions. Key features include a new analytics dashboard, dynamic journey themes, improved management for user journeys, and AI protection with Autonomous Access. These innovations aim to streamline identity integration, accelerate development, and measure user experience effectively, reinforcing ForgeRock's position in the identity management sector.

ForgeRock, a leader in digital identity solutions, announced its participation in the Piper Sandler Growth Frontiers Conference on September 14, 2022, at 8:00 a.m. PT (11:00 a.m. ET). The event will feature presentations by members of ForgeRock's management team and will be webcast live on their investor relations website. Following the presentation, a replay will be available. ForgeRock provides identity management solutions that secure the lifecycle of identities, serving over 1,300 organizations globally.

ForgeRock (NYSE: FORG) announced a strategic partnership with Secret Double Octopus to enhance its passwordless and Multi-factor Authentication (MFA) capabilities for enterprise workstations and infrastructure. The new solution, ForgeRock Enterprise Connect, aims to provide secure access for employees, contractors, and vendors, integrating with existing ForgeRock deployments. Key features include Workstation MFA, Desktop Single Sign-On, Remote Desktop MFA, and Enterprise Infrastructure MFA. The product will be showcased at the Gartner IAM Summit in Las Vegas.

ForgeRock (NYSE: FORG) reported its Q2 2022 financial results, showing Annualized Recurring Revenue (ARR) growth of 30% year-over-year to $201.6 million and revenue growth of 8% to $47.7 million. SaaS contributed 53% of ARR from new customers. However, the company faced challenges with elongated sales cycles and foreign exchange headwinds. The GAAP net loss widened to $22.4 million, though non-GAAP metrics showed less deterioration. Looking ahead, they anticipate total ARR between $225 million and $232 million for 2022.