Blue Coat Systems the provider of enterprise security solutions has entered into a definitive agreement to be acquired by funds advised by Bain Capital. The firm is being acquired from Thoma Bravo, LLC in an all-cash transaction valued at approximately $2.4 billion.
Speaking about the acquisition, David Humphrey, a managing director at Bain Capital, said, “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. 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.”
On the other hand, Ambarish Deshpande, Managing Director- India at Blue Coat Systems, said, “This development is a positive endorsement of the strong brand value, profitability and leading solutions portfolio of Blue Coat Systems Inc. We are extremely proud to be associated with Bain Capital and do look forward to the next stage of growth, where we will be able to further extend our reach and support towards our clients in India and continue to empower their businesses.”
Blue Coat has experienced a significant increase in its market share across the globe, where 80 percent of the Fortune 500 are its customers. In India, Blue Coat has realised a year on year growth rate of 45% and has a customer portfolio of more than 400 companies. The company has also built the largest global cloud security infrastructure, which integrates with its on premise solutions to offer hybrid defense, anytime, anywhere.