Thoma Bravo Completes Acquisition Of Blue Coat Systems

Thoma Bravo, LLC, a leading private equity investment firm, has completed the acquisition of Blue Coat Systems (NASDAQ: BCSI), a leading provider of Web security and WAN optimization solutions. Under the terms of the agreement, an investor group led by Thoma Bravo has acquired all of the outstanding shares of common stock of the company for $25.81 per share in cash, or approximately $1.3 billion. Blue Coat’s current president and chief executive officer, Gregory S. Clark, will continue to serve in the role for the company.

“The security and network acceleration markets have tremendous growth opportunities, and Blue Coat as a private company is now well poised to further strengthen its market leadership,” said Thoma Bravo managing partner Orlando Bravo. “We are enthusiastic about working with the Blue Coat team to take the company to the next level.”

“This marks our fifth platform investment in the security technology sector and our fourth in networking,” added Seth Boro, partner at Thoma Bravo. “We’re confident our approach and experience in identifying strategic opportunities, coupled with Blue Coat’s innovative solutions and proven leadership in Web security and WAN optimization, establishes a platform for the company’s continued success.”

Headquartered in Sunnyvale, Calif., Blue Coat provides products to more than 15,000 customers worldwide, including 88 percent of the Fortune® Global 500. Blue Coat is recognized by industry analysts for its market leadership in Web security and WAN optimization.

“Today represents an important milestone for Blue Coat as this transaction allows us to be more opportunistic and aggressively grow our leadership in Web security and WAN optimization solutions,” said Clark. “Our customers and partners will continue to receive the same experience they’ve grown accustomed to and can expect a renewed focus on enhancing our suite of solutions through strategic and organic growth opportunities.”

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