Investment firm Bain Capital acquires Blue Coat Systems for $2.4 billion
Blue Coat Systems, an enterprise security solutions company, has entered into an agreement to be acquired by a private investment firm Bain Capital. The company is being acquired from Thoma Bravo, LLC at approximately $2.4 billion.
With 80 percent of the Fortune 500 as its customers, Blue Coat has realised a year on year growth rate of 45 percent in India and has a customer portfolio of more than 400 companies.
“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.”
“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,” said Ambarish Deshpande, MD-India, Blue Coat Systems.
The transaction is expected to close during the first half of 2015.
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