PE Firm Bain Capital takes seat at Blue Coat Systems

PUNE, INDIA: Blue Coat Systems, Inc., a player in enterprise security solutions, announced the completion of its previously reported acquisition by funds advised by Bain Capital, a private investment firm. Bain Capital acquired Blue Coat from Thoma Bravo, LLC, in an all-cash transaction valued at approximately $2.4 billion.

The company adds it has increased market share and expanded its global leadership position in cybersecurity to encompass web protection, advanced threat defense, encrypted traffic management, incident response and forensics.

“Blue Coat has strengthened and expanded our product portfolio, leading to more value for our customers while positioning the company for the next stage of growth in partnership with Bain Capital,” said Gregory S. Clark, Chief Executive Officer, Blue Coat Systems, Inc. “We have benefitted from Thoma Bravo’s insight and support and look forward to continued progress and innovation with the help of Bain Capital as we build the business to become one of the top performing security companies in the world.”

“Blue Coat is a leader in the enterprise security market with its innovative product portfolio and 80 per cent of the Fortune 500 as customers who entrust Blue Coat to help protect their networks,” said David Humphrey, a Managing Director at Bain Capital. “We are excited to help Blue Coat further grow the business and potentially return to the public markets.”

Goldman, Sachs & Co. served as financial advisor to Blue Coat. Wilson Sonsini Goodrich & Rosati acted as legal advisor to Blue Coat and PwC LLP served as accounting advisor to Bain Capital.