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SAN JOSE, Calif., June 24, 2019 (GLOBE NEWSWIRE) -- Forescout Technologies, Inc. (NASDAQ: FSCT), the leader in device visibility and control, today announced the results of its global mergers and acquisitions (M&A) cybersecurity risk survey. The study, The Role of Cybersecurity in M&A Diligence, surveyed more than 2,700 IT and business decision makers across the United States, France, United Kingdom, Germany, Australia, Singapore and India to examine the growing concern of cyber risks and the importance of cyber assessment during M&A and the subsequent integration process.
According to the survey, 53% report their organization has encountered a critical cybersecurity issue or incident during a M&A deal that put the deal into jeopardy. Cybersecurity concerns discovered after consummation of the deal often present costly risks that would have been factored into the deal negotiations and/or may have led to the dissolution of the deal. After closing the acquisition, 65% experienced buyers’ remorse, regretting the deal due to cybersecurity concerns.
“M&A activity can be a game-changing moment in a company’s history, but recent breaches shine the spotlight on cybersecurity issues and make one thing abundantly clear: you don’t just acquire a company, but you also acquire its cybersecurity posture and a potential trojan horse,” said Julie Cullivan, chief technology and people officer, Forescout. “Cybersecurity assessments need to play a greater role in M&A due diligence to avoid ‘buying a breach.’ It’s nearly impossible to assess every asset before signing a deal, but it’s important to perform cyber due diligence prior to the acquisition and continually throughout the integration process.”
“Acquiring a company without proper cybersecurity due diligence is like buying a used car and taking the seller’s word it is in good condition,” said Joe Cardamone, senior information security analyst and NA privacy officer, Haworth. “A company should not automatically trust the hygiene of IT assets. It’s critical to have full visibility into all connected devices and determine whether they are patched, configured properly, and free of malware.”
The survey highlights the following findings:
About the Study
Forescout’s Report, “The Role of Cybersecurity in M&A Diligence,” is based upon a survey conducted from February 20 through March 10, 2019 commissioned by Forescout Technologies with respondents sourced from Quest Mindshare. Results were based on a total of 2,779 respondents of IT decision makers and business decision makers across industries from the U.S., France, U.K., Germany, Australia, Singapore and India. The data was weighted to evenly represent audiences and regions. To qualify, respondents had to be employed full-time, senior manager level or higher, and the primary decision maker for IT purchasing decisions or involved in M&A strategy.
Forescout Technologies, Inc. provides security at first sight. Our company delivers device visibility and control to enable enterprises and government agencies to gain complete situational awareness of their environment and orchestrate action. Learn more at www.forescout.com.
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