Showing posts with label Blue Coat. Show all posts
Showing posts with label Blue Coat. Show all posts

Monday, June 13, 2016

Symantec to Acquire Blue Coat for $4.65 Billion in Cash

Symantec agreed to acquire Blue Coat for approximately $4.65 billion in cash. Symantec intends to finance the transaction with cash on the balance sheet and $2.8 billion of new debt. In connection with the transaction, Silver Lake has agreed to make an additional investment of $500 million in 2.0% convertible notes due 2021 of Symantec, doubling its investment in Symantec to $1 billion. In addition, Bain Capital has agreed to make an investment of $750 million in the convertible notes.

Symantec said the acquisition of Blue Coat enhances its position to define the future of cybersecurity and set the pace for innovation.

“With this transaction, we will have the scale, portfolio and resources necessary to usher in a new era of innovation designed to help protect large customers and individual consumers against insider threats and sophisticated cybercriminals. Together, we will be best positioned to address the ever-evolving threat landscape, the massive changes introduced by the shift to mobile and cloud, and the challenges created by regulatory and privacy concerns,” said Dan Schulman, Chairman of Symantec.

For its fiscal year ending April 30, 2016, Blue Coat reports GAAP revenue of $598 million and non-GAAP revenue was $755 million, with 17% year-over-year growth, supported by new products and new customers. For the same time period, the company had non-GAAP operating margins of 22% and cash flow from operations of $135 million. Also for this time period, GAAP operating margins were -42%.

The combined Symantec + Blue Coat would have had $4.4 billion in revenues in fiscal year 2016, of which 62% would come from enterprise security. By the end of fiscal 2018, Symantec expects to realize $550 million in run-rate cost savings, of which $400 million will come from Symantec’s previously announced cost efficiency program.

Greg Clark, CEO of Blue Coat, will be appointed Chief Executive Officer of Symantec and join the Symantec Board upon closing of the transaction. The Board of Directors will continue to be led by Symantec’s current Chairman, Mr. Schulman. Mr. Clark will serve as CEO and Mr. Seifert will continue as Chief Financial Officer.

http://www.symantec.com
http://www.bluecoat.com

Monday, November 9, 2015

Blue Coat to Acquire Elastica for $280M - Cloud Security

Blue Coat Systems agreed to acquire Elastica, a start-up offering a cloud security system, for $280 million.

Elastica, which is based in San Jose, California (Santana Row), develops a security platform that provides visibility, control and data-level security across cloud, on premise and hybrid cloud environments. Elastica’s CloudSOC provides unique capabilities such as threat scoring powered by machine learning, user and end-point behavior modeling, natural language-based cloud DLP, and analysis with remediation in a cloud application SOC.  It further provides complete risk analysis and policy management for sanctioned cloud and “shadow IT” applications to ensure safe cloud usage. Elastica delivers these capabilities via its CASB gateway and API controls for cloud application security management and enforcement.

Blue Coat said that combining its on- and off-premise threat defense and cloud data protection with Elastica’s Cloud Access Security and Analytics, it can provide a comprehensive solution as users embrace the cloud.

“This acquisition gives Blue Coat customers access to Elastica’s CloudSOC, which brings an unprecedented level of elegance and innovation to something that is rapidly becoming a complex challenge for organizations to solve. As we evaluated many CASB players, it was clear that Elastica’s technologies represent the future of the CASB space,” said Greg Clark, Blue Coat CEO. “Segmented CASB players have survived through their dependency upon existing on-premise infrastructure. As the industry’s leading web security platform, it is natural for Blue Coat to be the first to deliver an extended spectrum of CASB capabilities while also delivering them with our cloud protection solutions.”

“Given the rapid acceleration of cloud adoption, our holistic data science-powered approach to cloud access security will enhance Blue Coat’s globally deployed security platform, empowering its customers to confidently and securely take advantage of the speed and agility that cloud applications offer,” said Rehan Jalil, CEO and founder of Elastica. “We are thrilled to join forces to broaden the reach of the Elastica CloudSOC platform through Blue Coat’s customers. Blue Coat’s commitment to enabling cloud applications and services aligns with our mission of providing visibility and protection of critical data stored in those applications. Together we are delivering the industry’s strongest set of enterprise cloud security capabilities.”

http://www.bluecoat.com
https://www.elastica.net/

Wednesday, March 11, 2015

Blue Coat to be Acquired by Bain Capital from Thoma Bravo

Bain Capital, one of the world’s foremost private investment firms, will acquire Blue Coat Systems from Thoma Bravo for approximately $2.4 billion in cash.

Blue Coat, which is based in Sunnyvale, California, provides on-premise, hybrid and cloud-based solutions for protecting web connectivity, combating advanced threats and responding to security breaches.

Bain Capital indicated a possible return to the public market for Blue Coat.

“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.”

“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.”

https://www.bluecoat.com/company/press-releases/blue-coat-be-acquired-bain-capital


  • In early 2013, an investor group led by San Francisco-based private equity investment firm Thoma Bravo acquired Blue Coat Systems in a deal valued at $1.3 billion. 

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