Thursday, June 22, 2006

Blue Coat to Acquire NetCache Business From Network Appliance

Blue Coat Systems, a supplier of secure content and application delivery, agreed to acquire Network Appliance's NetCache business.

Blue Coat said the acquisition would further its vision of using proxy technology as the foundational element of the emerging application delivery infrastructure to enable secure and accelerated delivery of applications and content to users.

Separately, Blue Coat announced an investment by Francisco Partners and Sequoia Capital. Francisco Partners and Sequoia Capital purchased shares of Blue Coat Series A Preferred Stock, which are convertible into 2,400,000 shares of Blue Coat common stock at $17.525 per share for a total value of approximately $42 million.

Blue Coat is using a portion of the proceeds from this private equity investment.

See also