Forescout Agrees to Advent’s Revised $1.4 Billion Buyout (1)

Private equity firm Advent International Corp. reached an agreement with Forescout Technologies Inc. to move forward with an acquisition of the cybersecurity firm at a discount to the original $1.9 billion deal price.

Advent, which pulled out of the deal in May citing the coronavirus pandemic, will now pay more than $1.4 billion, or $29 a share in cash, Forescout said in a statement Wednesday. That amounts to a 12% cut from the $33-per-share deal Boston-based Advent originally agreed to in February.

Forescout shares, which fell sharply when Advent tried to scuttle the deal, were up about 15% Wednesday afternoon ...