Advent drops its pending $1.9 billion acquisition of Forescout

Advent International Corporation will not be able to consummate its acquisition of Forescout Technologies due to uncertainties stemming from the COVID-19 pandemic.

Forescout and Advent are engaged in ongoing discussions regarding timing to close and the terms of the transaction. There can be no assurance that Forescout and Advent will be able to reach agreement on terms.

“This is an uncertain time for everyone, as businesses and communities across the world navigate the challenges created by the COVID-19 pandemic,” said Michael DeCesare, CEO and President of Forescout. “We continue to believe that Advent is the right partner for Forescout and we remain committed to completing the transaction in the near-term. We thank our employees for their extraordinary efforts and commitment to Forescout, and we remain focused on continuing our course of advancing our innovation roadmap and strategic cloud and business transformation.”

• In February, Advent International, one of the largest and most experienced global private equity investors, will acquire all outstanding shares of Forescout common stock for $33.00 per share in an all-cash transaction valued at $1.9 billion.