Advent International’s $1.9 Billion Acquisition of Forescout Technologies

Wilson Sonsini Goodrich & Rosati served as legal counsel. Ropes & Gray served as legal counsel to Advent International.

Forescout Technologies entered into a definitive agreement under which Advent International, in partnership with Crosspoint Capital Partners, will acquire all outstanding shares of Forescout common stock for $33.00 per share in an all-cash transaction valued at $1.9 billion.

The transaction is expected to close in the second calendar quarter of 2020, subject to customary closing conditions, including approval by Forescout shareholders and receipt of regulatory approvals. Upon completion of the transaction, Forescout common stock will no longer be listed on any public market.

Advent International is one of the largest and most experienced private equity investors in the world. The firm has invested in more than 350 private equity transactions in 41 countries, and as of September 30, had $56.6 billion in assets under management.

Crosspoint, a private equity investment firm focused on the cybersecurity and privacy industries, is a co-investor and advisor.

Forescout Technologies, Inc. provides security at first sight. The company delivers device visibility and control to enable enterprises and government agencies to gain complete situational awareness of their environment and orchestrate action.

Morgan Stanley & Co. LLC served as exclusive financial advisor to Forescout. Owl Rock Capital served as financial advisor to Advent International.

The Ropes & Gray team that advised Advent was led by private equity partner Amanda McGrady Morrison (Picture; Boston), and included private equity partner Chau Le (San Francisco), finance partners Byung Choi (Boston) and Andrea Hwang (New York), strategic transactions partner L. Thomas Holden (San Francisco), benefits partner Renata Ferrari (Boston), tax partner Adam Greenwood (New York), cybersecurity partner Edward McNicholas(Washington), labor & employment partner Megan Bisk (Boston) and intellectual property transactions partner Megan Baca (Silicon Valley).

Involved fees earner: Megan Baca – Ropes & Gray; Megan Bisk – Ropes & Gray; Byung Choi – Ropes & Gray; Renata Ferrari – Ropes & Gray; Adam Greenwood – Ropes & Gray; Thomas Holden – Ropes & Gray; Andrea Hwang – Ropes & Gray; Minh-Chau Le – Ropes & Gray; Amanda McGrady Morrison – Ropes & Gray; Edward McNicholas – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Advent International;