Blue Coat Systems taken private for $1.3 billion cash

InfoSec News <[email protected]> Fri, 17 Feb 2012 04:33:31 -0600 (CST)
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http://news.techworld.com/security/3338094/blue-coat-systems-taken-privat=
e-for-13-billion-cash/

By John E Dunn
Techworld
16 February 2012

Security vendor Blue Coat Systems is once again a private company after=20
the company=E2=80=99s shareholders confirmed a December takeover that val=
ues the=20
company at $1.3 billion (=C2=A3830 million).

The acquisition by private equity company Thoma Bravo brings full circle=20
over a decade of quoted existence after Blue Coat (then called=20
CacheFlow) took itself public during the height of the dot.com boom in=20
1999.

Since then Blue Coat has more often than not been the acquiring party,=20
buying the high-rated traffic management outfit Packeteer in 2008.=20
Founded in the mid-1990s, in 2002 with the dot.com bust in full swing,=20
the company changed its name to Blue Coat Systems.

Interestingly, at more than $25 per share in cash, Thoma Bravo has=20
agreed to pay a hefty premium over the company=E2=80=99s share price to g=
et its=20
hands on a middle-ranking security and infrastructure company.

[...]


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