Security News > 2020 > February > Forescout Technologies to be Acquired in $1.9 Billion Deal
Enterprise device security firm Forescout Technologies announced on Thursday that it has agreed to be acquired by private equity firm Advent International in a deal valued at $1.9 billion.
Under the terms of the agreement, Advent will acquire all outstanding shares of Forescout common stock for $33.00 in cash, a premium of nearly 20% over Forescout's closing share price on Feb. 5th. There is a chance that Advent could be out bid for the cybersecurity firm, as the agreement includes a 30-day "Go-shop" period that expires on March 8, 2020, and allows Forescout to solicit alternative acquisition bids from interested parties.
Upon completion of the transaction, Forescout will become a private company led by current CEO and President Michael DeCesare and continue to be headquartered in San Jose, California.
In 2016, Forescout raised $76 million in funding at a $1 billion valuation, and became a public company after its initial public offering in October 2017.
In November 2018, Forescout acquired operational technology network security firm SecurityMatters for approximately $113 million in cash to expand its industrial cybersecurity offerings.