RealTime IT News

Blue Coat Going Private for $1.3 Billion

WAN optimization vendor Blue Coat Systems (Nasdaq: BCSI) announced today that it is being taken private by an investment group led by private equity firm Thoma Bravo LLC. The deal is valued at $1.3 billion and is expected to close in the first quarter of calendar 2012.

"The value of the deal speaks for itself, it's basically a 50 percent premium over what we were trading at yesterday," Steve Daheb, chief marketing officer and senior vice president at Blue Coat, told InternetNews.com. "You don't do that unless you have a really strong belief in the direction of the company and it's opportunity to grow in both the security and optimization markets."

Read the full story at EnterpriseNetworkingPlanet:
Blue Coat Acquired for $1.3 Billion

Sean Michael Kerner is a senior editor at InternetNews.com, the news service of Internet.com, the network for technology professionals.