Blue Coat Systems gets flipped for $2.4 billion
Blue Coat Systems is being sold by one private equity firm to another for $2.4 billion as it is prepped to go public again after it was taken off the stock market in 2012.
The company, with a broad security portfolio including hardware, software and services, is being sold by Thoma Bravo LLC to funds advised by Bain Capital.
The purpose of the sale is to further grow Blue Coat’s line of products and services, “and help us prepare to return to the public markets,” said CEO Greg Clark. Blue Coat claims to have 400 of the Fortune 500 as its customers.