Thursday, February 25, 2021
  • Setup menu at Appearance » Menus and assign menu to Top Bar Navigation
Advertisement
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
No Result
View All Result
Home Internet Security

Back on track: Forescout, Advent agree new merger price, drop COVID-19 lawsuit

July 18, 2020
in Internet Security
Back on track: Forescout, Advent agree new merger price, drop COVID-19 lawsuit
585
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

A merger between Forescout Technologies and Advent International is now back on track with a new acquisition price agreed upon. 

Global private equity investor Advent announced the acquisition of device and network security firm Forescout in February. The deal was originally inked for $1.9 billion, in which Advent intended to buy Forescout common stock for $33 per share, a premium of approximately 30 percent. 

You might also like

More than 6,700 VMware servers exposed online and vulnerable to major new bug

Google funds Linux kernel developers to work exclusively on security

Want to pass on your old PCs to good causes? Here’s how to do it while staying secure

See also: Device security firm Forescout snapped up by Advent in $1.9 billion deal

The deal obtained the necessary board approval and was expected to close in Q2 2020. 

However, as the novel coronavirus began to spread worldwide, the business world experienced severe disruption with offices shut, staff forced to work from home, and in some cases, companies either closing down entirely or going through restructuring to cut costs. 

Acquisitions, too, were in the firing line. By May, Advent withdrew from the planned purchase of San Jose, Calif.-based Forescout, citing “material” changes at Forescout caused by COVID-19. 

In return, Forescout filed a lawsuit in the Delaware Court of Chancery, alleging that by withdrawing from the agreement, Advent violated the terms of the deal. Forescout asked the court to force Advent to complete the merger. 

CNET: Huawei ban timeline: US hits Chinese company’s employees with visa restrictions

Now, the pending litigation has been dropped as the companies have agreed upon a way forward that will see the merger finally complete — albeit at a lower purchase price. 

The amended agreement has been agreed at $29 per share, a $4 per share drop. This is 12% lower than the original agreement, but 16% above closing share prices of $25 on July 15. 

“We believe this was the best outcome for both parties,” Forescout says. 

TechRepublic: Cybercriminals disguising as top streaming services to spread malware

The company added that the new agreement represents a “solid outcome” for its shareholders, and while a reduction in price “is not ideal in a perfect world,” the current situation caused by COVID-19 has to be kept in mind. 

In other words, the completion of a deal is better than a court case and a failed merger. In addition, Advent avoids potentially expensive breakup fees, should the company have been found to have been at fault in the courtroom. 

Advent will make a tender offer by July 20 and the new transaction is expected to close in Q3 2020. 

Previous and related coverage


Have a tip? Get in touch securely via WhatsApp | Signal at +447713 025 499, or over at Keybase: charlie0


Credit: Zdnet

Previous Post

How BMW and Malong used edge AI and machine learning to streamline warehouse and checkout systems

Next Post

Artificial Intelligence & Advanced Machine Learning Market Analysis, Demand, Share, Growth Estimation, Developing Trends and Forecast 2025

Related Posts

More than 6,700 VMware servers exposed online and vulnerable to major new bug
Internet Security

More than 6,700 VMware servers exposed online and vulnerable to major new bug

February 25, 2021
Google funds Linux kernel developers to work exclusively on security
Internet Security

Google funds Linux kernel developers to work exclusively on security

February 25, 2021
Want to pass on your old PCs to good causes? Here’s how to do it while staying secure
Internet Security

Want to pass on your old PCs to good causes? Here’s how to do it while staying secure

February 24, 2021
Red Hat closes StackRox Kubernetes security acquisition
Internet Security

Red Hat closes StackRox Kubernetes security acquisition

February 24, 2021
COVID pandemic causes spike in cyberattacks against hospitals, medical companies
Internet Security

COVID pandemic causes spike in cyberattacks against hospitals, medical companies

February 24, 2021
Next Post
Artificial Intelligence & Advanced Machine Learning Market Analysis, Demand, Share, Growth Estimation, Developing Trends and Forecast 2025

Artificial Intelligence & Advanced Machine Learning Market Analysis, Demand, Share, Growth Estimation, Developing Trends and Forecast 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

January 6, 2019
Microsoft, Google Use Artificial Intelligence to Fight Hackers

Microsoft, Google Use Artificial Intelligence to Fight Hackers

January 6, 2019

Categories

  • Artificial Intelligence
  • Big Data
  • Blockchain
  • Crypto News
  • Data Science
  • Digital Marketing
  • Internet Privacy
  • Internet Security
  • Learn to Code
  • Machine Learning
  • Marketing Technology
  • Neural Networks
  • Technology Companies

Don't miss it

More than 6,700 VMware servers exposed online and vulnerable to major new bug
Internet Security

More than 6,700 VMware servers exposed online and vulnerable to major new bug

February 25, 2021
Everything You Need to Know About Evolving Threat of Ransomware
Internet Privacy

Everything You Need to Know About Evolving Threat of Ransomware

February 25, 2021
Machine learning speeding up patent classifications at USPTO
Machine Learning

Machine learning speeding up patent classifications at USPTO

February 25, 2021
How to Make Data Annotation More Efficient? | by ByteBridge | Feb, 2021
Neural Networks

How to Make Data Annotation More Efficient? | by ByteBridge | Feb, 2021

February 25, 2021
How to Nail Virtual and Digital Communication
Marketing Technology

How to Nail Virtual and Digital Communication

February 25, 2021
Google funds Linux kernel developers to work exclusively on security
Internet Security

Google funds Linux kernel developers to work exclusively on security

February 25, 2021
NikolaNews

NikolaNews.com is an online News Portal which aims to share news about blockchain, AI, Big Data, and Data Privacy and more!

What’s New Here?

  • More than 6,700 VMware servers exposed online and vulnerable to major new bug February 25, 2021
  • Everything You Need to Know About Evolving Threat of Ransomware February 25, 2021
  • Machine learning speeding up patent classifications at USPTO February 25, 2021
  • How to Make Data Annotation More Efficient? | by ByteBridge | Feb, 2021 February 25, 2021

Subscribe to get more!

© 2019 NikolaNews.com - Global Tech Updates

No Result
View All Result
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News

© 2019 NikolaNews.com - Global Tech Updates