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[ISN] Blue Coat Systems taken private for $1.3 billion cash
By John E Dunn
16 February 2012
Security vendor Blue Coat Systems is once again a private company after
the companyâs shareholders confirmed a December takeover that values the
company at $1.3 billion (Â830 million).
The acquisition by private equity company Thoma Bravo brings full circle
over a decade of quoted existence after Blue Coat (then called
CacheFlow) took itself public during the height of the dot.com boom in
Since then Blue Coat has more often than not been the acquiring party,
buying the high-rated traffic management outfit Packeteer in 2008.
Founded in the mid-1990s, in 2002 with the dot.com bust in full swing,
the company changed its name to Blue Coat Systems.
Interestingly, at more than $25 per share in cash, Thoma Bravo has
agreed to pay a hefty premium over the companyâs share price to get its
hands on a middle-ranking security and infrastructure company.
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