Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Cloud

3/11/2015
04:00 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Blue Coat to be Acquired by Bain Capital

Deal valued at $2.4 Billion, Prepares Company for Return to Public Markets

SUNNYVALE, Calif., March 10, 2015 – Blue Coat Systems, Inc., a market leader in enterprise security solutions to protect enterprises against even the most advanced threats, today announced that it has entered into a definitive agreement to be acquired by funds advised by Bain Capital, one of the world’s foremost private investment firms.  The company is being acquired from Thoma Bravo, LLC in an all-cash transaction valued at approximately $2.4 billion.

During the past three years, Blue Coat has experienced strong market share and revenue growth in its major product lines and currently counts 80 percent of the Fortune 500 as customers. The company has also made several successful strategic acquisitions extending their solutions to the advanced threat defense, security analytics and encrypted traffic management spaces. Blue Coat offers an integrated portfolio of products that lead the industry in effectiveness in stopping today’s threats and those products have become the de facto standard for many of the Fortune Global 2000. Blue Coat has also built the largest global cloud security infrastructure, which integrates with its on premise solutions to offer hybrid defense, anytime, anywhere.

“Blue Coat has differentiated products for protecting enterprises from even the most sophisticated threats, and we are proud to be a foundational part of the security architecture for the world’s largest enterprises. The world’s most trusted brands use Blue Coat, and the acquisition by Bain Capital sets us on the trajectory to further grow our portfolio, better serve our customers and help us prepare to return to the public markets,” said Gregory S. Clark, chief executive officer, Blue Coat Systems, Inc. “Bain Capital has a long history of accelerating growth, and I look forward to partnering with them in our journey to be one of the top performing security companies in the world.”

“We are excited by the opportunity to work with Blue Coat's world-class management team to grow the business organically and through acquisitions, and to ultimately return the company to the public markets,” said David Humphrey, a managing director at Bain Capital. “We are very impressed with the profitable growth the company has demonstrated and believe strongly in the future growth of the cyber security market and Blue Coat’s position in this important sector.”

“We are extremely proud of our partnership with Blue Coat, which has achieved substantial growth since going private in 2012, while positioning itself as a leading next generation security company,” said Seth Boro, a managing partner at Thoma Bravo.  “We look forward to watching Blue Coat continue to grow with its new investment partner.”

The transaction is subject to customary closing conditions, including requisite regulatory approvals, and the transaction is expected to close during the first half of 2015.

Goldman, Sachs & Co. is serving as financial advisor to Blue Coat. Wilson Sonsini Goodrich & Rosati is acting as legal advisor to Blue Coat. Jefferies Finance LLC is providing the financing commitments, and Jefferies LLC is acting as sole financial advisor to Bain Capital. Ropes & Gray LLP is acting as legal counsel, and PwC LLP is serving as accounting advisor to Bain Capital.

About Blue Coat Systems

Blue Coat is a leader in enterprise security, providing on-premise, hybrid and cloud-based solutions for protecting web connectivity, combating advanced threats and responding to security breaches. Blue Coat is the global market leader in securing connection to the web and counts nearly 80 percent of the Global Fortune 500 as its customers. For additional information, visit www.bluecoat.com.

About Bain Capital

Bain Capital, LLC (www.baincapital.com) is one of the world’s foremost privately-held alternative investment firms, with approximately $80 billion of assets under management in several pools of capital including private equity, venture capital, public equity, credit products and absolute return. Bain Capital’s more than 400 professionals are collectively the single largest investor in all of its funds and are dedicated to investing in and building its portfolio companies. Founded in 1984, Bain Capital has made private equity, growth, and venture capital investments in hundreds of companies around the world, and has deep experience in the technology, with investments in companies including BMC Software, Applied Systems, Viewpoint Construction Software, Skillsoft, Applied Systems, MYOB, SunGard Data Systems, TeamSystems, LinkedIn, SolarWinds, and SurveyMonkey. Bain Capital has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Dublin, Tokyo, Shanghai, Hong Kong, Mumbai and Melbourne.

 

# # #

Blue Coat and the Blue Coat logo are registered trademarks or trademarks of Blue Coat Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners.

 

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 10/27/2020
Chinese Attackers' Favorite Flaws Prove Global Threats, Research Shows
Kelly Sheridan, Staff Editor, Dark Reading,  10/27/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
How IT Security Organizations are Attacking the Cybersecurity Problem
How IT Security Organizations are Attacking the Cybersecurity Problem
The COVID-19 pandemic turned the world -- and enterprise computing -- on end. Here's a look at how cybersecurity teams are retrenching their defense strategies, rebuilding their teams, and selecting new technologies to stop the oncoming rise of online attacks.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-27652
PUBLISHED: 2020-10-29
Algorithm downgrade vulnerability in QuickConnect in Synology DiskStation Manager (DSM) before 6.2.3-25426-2 allows man-in-the-middle attackers to spoof servers and obtain sensitive information via unspecified vectors.
CVE-2020-27653
PUBLISHED: 2020-10-29
Algorithm downgrade vulnerability in QuickConnect in Synology Router Manager (SRM) before 1.2.4-8081 allows man-in-the-middle attackers to spoof servers and obtain sensitive information via unspecified vectors.
CVE-2020-27654
PUBLISHED: 2020-10-29
Improper access control vulnerability in lbd in Synology Router Manager (SRM) before 1.2.4-8081 allows remote attackers to execute arbitrary commands via port (1) 7786/tcp or (2) 7787/tcp.
CVE-2020-27655
PUBLISHED: 2020-10-29
Improper access control vulnerability in Synology Router Manager (SRM) before 1.2.4-8081 allows remote attackers to access restricted resources via inbound QuickConnect traffic.
CVE-2020-27656
PUBLISHED: 2020-10-29
Cleartext transmission of sensitive information vulnerability in DDNS in Synology DiskStation Manager (DSM) before 6.2.3-25426-2 allows man-in-the-middle attackers to eavesdrop authentication information of DNSExit via unspecified vectors.