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Blue Coat acquired for $2.4 billion

27 May 2015

Bain Capital, the private investment firm, has acquired Blue Coat from Thoma Bravo in an all-cash transaction valued at approximately $2.4 billion.

Blue Coat, the enterprise security solutions provider, offers an integrated portfolio of security products designed to protect against advanced threats.

Blue Coat has a global cloud security infrastructure, which integrates with its on-premise solutions to offer hybrid defence.

The company has increased market share and expanded its cybersecurity offerings to encompass web protection, advanced threat defence, encrypted traffic management, incident response and forensics.

David Humphrey, Bain Capital managing director, says, “Blue Coat is a leader in the enterprise security market with its innovative product portfolio and 80% of the Fortune 500 as customers who entrust Blue Coat to help protect their networks.

“We are excited to help Blue Coat further grow the business and potentially return to the public markets.”

Gregory S. Clark, Blue Coat Systems CEO, says, “Blue Coat has strengthened and expanded our product portfolio, leading to more value for our customers while positioning the company for the next stage of growth in partnership with Bain Capital.”

“We have benefited from Thoma Bravo’s insight and support and look forward to continued progress and innovation with the help of Bain Capital as we build the business to become one of the top performing security companies in the world,” he says.

Goldman, Sachs & Co. served as financial advisor to Blue Coat and Wilson Sonsini Goodrich & Rosati acted as legal advisor.

Jefferies Finance LLC provided financing commitments, and Jefferies LLC acted as sole financial advisor to Bain Capital.

Also for Bain Capital, Ropes & Gray LLP acted as legal counsel, and PwC LLP served as accounting advisor.

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