Delisting Will Allow Forescout to Do Things a Public Company Can't, Says Exec
Forescout co-founder Oded Comay spoke to Calcalist days after the company's $1.9 billion acquisition
Forescout Technologies Inc. co-founder Oded Comay views the company's acquisition last week as a second exit. On Thursday, the San Jose, California-headquartered cyber company was acquired by Boston-based private equity firm Advent International Corp. and Crosspoint Capital Partners in a $1.9 billion deal that will see Forescout delist from Nasdaq after more than two years on the exchange.In a Sunday Interview with Calcalist, Comay said that the deal was part of a strategic plan Forescout has been working on for some time. "We are becoming a private company again in order to make a business move that is difficult to do when you are a public company," he said. "We will move from a business model of a lifetime license to cloud services, meaning monthly subscriptions. That means a temporary dip in revenues and that is a hard move for a public company that lives from quarter to quarter," he said, adding that the change will make the company's sales model more current.