Blue Coat to Be Bought for $1.3 Billion

NEW YORK ( TheStreet) -- Blue Coat Systems ( BCSI), the Web security company, said Friday it agreed to sell itself to an investor group led by private-equity firm Thoma Bravo for about $1.3 billion in cash.

Under the deal, Blue Coat shares are valued at $25.81 a share, a premium of about 48% to the stock's closing price Thursday.

-- Written by Joseph Woelfel

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