Recent acquisition by Thoma Bravo.
I recently started with Forgerock and the company was recently acquired by TB. Not exactly sure what to do? I've been looking around for new opportunities just in case layoffs are coming.
private equity firm. gut companies, remove inefficiencies, mash them up with other portfolio companies. generally negative for employees but it takes a lot of time to change the status quo in most cases. ride it out and see how it goes.
WTF.. these twats acquired Coupa too..
They also acquired Ping, which is our direct competitor. How does the FTC or SEC let this happen. Its pure Antitrust.
Yup, heard they’re terrible. But whatever the case, layoffs would take a few months. They’re using this opportunity to acquire companies for cheap.
Of course they will lay people off. Otherwise how are they going to make money paying 30%+ above the market price? This is the standard PE playbook. Pay extra for stagnant tier 2/3 companies that don’t need a ton of innovations to stay alive, lay people off to cut cost and eliminate inefficiencies, merge similar companies to increase market share, IPO again when the market improves or sell to another PE at higher price, then PROFIT! Get ready for the worst and start looking.
I worked for a company acquired by Thoma Bravo and cuts started almost immediately and continued for years. All they care about is money and they will cut even necessary functions down to bare minimum and work the remaining employees down to the bone to make their numbers. I’d get out of there if you can, morale will be trash and WLB will almost certainly decrease even if you manage to make it through the layoffs.
Have been under a TB company in one form or another for 6-7 years now, it’ll be a constant struggle of cuts. They’ll make everything seem pretty reasonable but they buy companies to sell, not to run. It starts with upper management but then yes you’ll merge with another company in time and then everything gets cut HARD.
I strongly suggest getting out of there. Anaplan got acquired by them and layoffs followed immediately. Not to mention a complete breakdown of the company wlb culture. Good luck
The layoff that happened immediately after was a 2% layoff in marketing I believe. There still some anxiety about more layoffs coming to engineering but they haven't begun yet.
What’s the company like now under new management