Phoenix Contact Innovation Ventures conducts the first exit of its portfolio company SecurityMatters to the world’s leading provider of device visibility ForeScout.
Phoenix Contact Innovation Ventures is pleased to announce the acquisition of its portfolio company SecurityMatters, a global leader in OT network protection, by ForeScout Technologies for approximately $113 million, subject to customary adjustments.
A new home
The acquisition will strengthen ForeScout’s global leadership position in device visibility across the extended enterprise with expanded capabilities and advanced features to secure OT and industrial environments.
Damiano Bolzoni, founder and CEO of SecurityMatters, adds: “OT and industrial IoT are at the forefront of a changing transformation where device visibility and control are key to any solid cybersecurity strategy. We have found an excellent home at ForeScout, where our team and our technology will develop their full potential.”
the next phase
“One of the challenges we faced at SecurityMatters was dealing with the complex market for industrial control systems. The industrial knowledge and personal commitment that Phoenix Contact brought to the table were key to the success of our company,” says Dr. Sandro Etalle, co-founder and CEO of SecurityMatters.
Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures GmbH: “We have been happy to accompany SecurityMatters in its amazing success story over the last two years. We are proud that one of our first investments from our fund is now entering a new phase of business development together with a strong partner like ForeScout.”
Founded in 2009, SecurityMatters provides organizations with device visibility, continuous network monitoring, and threat and anomaly detection specifically for operational technologies and industrial environments through passive detection methods that do not disrupt operations. The SecurityMatters solution protects networks from a wide range of threats using patented technologies and a library of over 1600 ICS-specific threat indicators.
ABOUT FORESCOUT TECHNOLOGIES
ForeScout Technologies, Inc. helps to make the invisible visible. Our company provides Global 2000 companies and government agencies with agentless visibility and control over traditional and IoT devices as soon as they are connected to the network. The technology integrates with various security tools to help companies accelerate incident response, break through silos, automate workflows and optimize existing investments.
Marcus Böker, Managing Director