ZeroFox to be acquired for nearly $350M

External cybersecurity solutions provider ZeroFox has agreed to a nearly $350 million all-cash acquisition deal from tech-oriented private equity firm Haveli Investments, which is poised to be finalized by the first six months of the year, SecurityWeek reports. Such a deal, which would provide $1.14 per share in cash to stakeholders upon its completion, was not confirmed to include a clause enabling other offers to purchase the firm for a higher price, prompting an investigation from law firm Wohl & Fruchter. "We are investigating whether the ZeroFox Board acted in the best interests of ZeroFox shareholders in approving the sale. This includes whether the members of the Special Committee were truly independent, whether the price agreed upon is fair to ZeroFox shareholders, and whether all material information regarding the transaction has been fully disclosed," said Wohl & Fruchter Founding Partner Joshua Fruchter. However, ZeroFox Board of Directors Lead Independent Director Todd Headley noted that the deal presented by Haveli Investments would be the "best path forward."