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2/6/2020
02:00 PM
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Forescout Acquired by Private Equity Team

The deal, valued at $1.9 billion, is expected to close next quarter.

Forescout Technologies has announced it will be acquired by private equity investors Advent International, with participation by Crosspoint Capital Partners. Advent will pay $33 per share for a total all-cash transaction of $1.9 billion.

Forescout was valued at $25.45 on Oct. 18, the last full day of trading before Corvex Management L.P. and Jericho Capital Asset Management L.P. released 13-D forms announcing their intent to acquire a 14.5% stake in the company. Advent's purchase represents a 30% premium over the closing price.

The transaction is expected to close in the second quarter of 2020. Michael DeCesare will continue as president and CEO after the acquisition.

Read more here.

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