ForeScout Technologies Prices IPO at $20.00-$22.00 Per Share (FSCT)
ForeScout Technologies (FSCT) is planning to raise $101 million in an initial public offering (IPO) on Friday, October 27th, IPO Scoop reports. The company will be issuing 4,800,000 shares at $20.00-$22.00 per share.
In the last year, ForeScout Technologies generated $188.7 million in revenue and had a net loss of $82.8 million. The company has a market-cap of $769.5 million.
Morgan Stanley, J.P. Morgan and Citigroup served as the underwriters for the IPO and BofA Merrill Lynch, UBS Investment Bank and KeyBanc Capital Markets were co-managers.
ForeScout Technologies provided the following description of their company for its IPO: “We transform security through visibility. We have pioneered an agentless approach to network security to protect organizations against the emerging threats that exploit the billions of Internet of Things, or IoT, devices connected to organizations’ networks. Over 28 billion devices will be connected to the internet by the year 2020, according to ABI Research, and a growing percentage of them will be used for business purposes through Bring Your Own Device, or BYOD, and Enterprise IoT initiatives. According to the 2017 Strategic Roadmap for IoT Network Technology by Gartner (January 2017), 63 million IoT devices will be attempting to connect to the enterprise network each second by 2020. “.
ForeScout Technologies was founded in 2000 and has 809 employees. The company is located at 190 West Tasman Drive, San Jose, CA 95134, US and can be reached via phone at (408) 213-3191 or on the web at http://www.forescout.com.
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