KPN Ventures has sold its minority holding in its portfolio company SecurityMatters to ForeScout Technologies. The transaction is part of a successful bid by ForeScout to acquire full ownership of SecurityMatters for $113 million in cash. SecurityMatters is a global leader in industrial cybersecurity network protection.
PN Ventures invested in Eindhoven-based SecurityMatters in 2016, alongside other investors. Herman Kienhuis, Managing Director KPN Ventures states: “The SecurityMatters team has achieved great international success with their superior technology to protect critical infrastructure, and the acquisition by ForeScout Technologies allows them to expand that much further. We’re proud to have supported them in their growth.”
“With KPN, we had a much-needed investor with an outstanding knowledge of the services market, one who also was open to face with us the challenge of Industrial IoT,” said Sandro Etalle, co-founder and chairman of SecurityMatters.
KPN works together with SecurityMatters in providing their cybersecurity solution to industrial clients in The Netherlands and in developing an innovative office building automation security solution.
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. www.secmatters.com
ForeScout Technologies, Inc. helps make the invisible visible. The 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. The technology integrates with disparate security tools to help organizations accelerate incident response, break down silos, automate workflows and optimize existing investments. www.forescout.com