The acquisition of SecurityMatters by ForeScout is the first exit of Phoenix Contact Innnovation Ventures
Phoenix Contact Innovation Ventures performs its first exit of its portfolio company SecurityMatters to the global leader in device visibility ForeScout.
PHOENIX CONTACT Innovation Ventures is pleased to announce the acquisition of its portfolio company SecurityMatters, a global leader in operational technology (OT) network protection, by ForeScout Technologies for approximately $113 million in cash, subject to customary adjustments.
The acquisition will bolster 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, SecurityMatters adds, “OT and industrial IoT are at the forefront of a game changing transformation in which device visibility and control are key for any sound cybersecurity strategy. We found an outstanding home at ForeScout where our team and our technology will develop its full potential.”
“One of the challenges we faced at SecurityMatters was dealing with the complex industrial control systems market. The industrial knowledge and personal involvement that Phoenix Contact has brought at the table have been key to the success of our company,” states Dr. Sandro Etalle, co-founder and Chairman of the Board, Security Matters.
Marcus Böker, Managing Director, Phoenix Contact Innovation Ventures GmbH states “We have gladly accompanied SecurityMatters during their astonished track record over the last two years. We are proud that one of our first investments of our fund is now entering into a new stage 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 specific to operational technology and industrial environments using passive collection techniques that don’t impact operations. Its solution protects networks from the widest range of threats utilizing patented technology and with a library of over 1600 ICS-specific threat indicators.
About ForeScout Technologies
ForeScout Technologies, Inc. helps make the invisible visible. Our company provides Global 2000 enterprises and government agencies with agentless visibility and control of traditional and IoT devices the instant they connect to the network. Our technology integrates with disparate security tools to help organizations accelerate incident response, break down silos, automate workflows and optimize existing investments.
About PHOENIX CONTACT Innovation Ventures GmbH
PHOENIX CONTACT Innovation Ventures is the global corporate venture capital company of the PHOENIX CONTACT Group, a global manufacturer and supplier of components and systems for electrical connection and industrial automation technology. The venture capital company invests in startups with business models that are related to electrical connection technology, industrial digitization, automation and control technology, and associated markets.
For more information please contact:
PHOENIX CONTACT Innovation Ventures GmbH