In February, Forescout had said it agreed to be taken private by the Boston PE firm for $33 a share. Advent later pulled out of that deal.
The latest offer price values Forescout at $1.43 billion, Reuters reported. The latest deal price is a 16% premium to the San Jose, Calif., company's closing price on Tuesday.
At last check Forescout shares were trading up more than 15% at $28.88.
“We continue to believe that Advent and Crosspoint Capital Partners are the right partners for Forescout,” said Forescout Chief Executive Michael DeCesare in a statement.
Advent will commence a tender offer by July 20 with the sale expected to close in the third quarter.
Crosspoint is the Woodside, Calif., private-equity firm focused on cybersecurity and privacy.
As part of the deal, Greg Clark, Crosspoint's managing partner and a former CEO of Symantec, will join Forescout's board. Nicholas Noviello, former chief financial officer of Symantec and NetApp, becomes Forescout's chief operating officer.
"We believe revising the terms of the previously announced transaction is the best path forward for Forescout because it removes the significant ongoing distraction of the pending litigation and delivers immediate and certain value to Forescout’s shareholders," said Theresia Gouw, Forescout's chairwoman.
In mid-May Advent had decided not to go forward with the earlier deal, Forescout said at the time. "The merger agreement explicitly allocated the risk of any impacts from covid-19 to Advent," Forescout had said in a statement.
Forescout a few days later filed suit in Delaware Chancery Court, claiming that Advent had breached their acquisition agreement and that the PE firm was required to close the deal.