Blue Coat, which specializes in Web security and WAN optimization solutions, has agreed to be acquired by an investor group led by San Francisco-based PE firm Thoma Bravo in a transaction valued at roughly $1.3 billion.
Shareholders stand to receive $25.81 per share per common stock, in cash, and Blue Coat’s board of directors has already approved the agreement. The price represents a premium of almost 50 percent over the company’s closing price on December 8, 2011.
Blue Coat’s solutions protect enterprises from Web-based security threats and for accelerating and optimizing applications and rich media content, such as video, over their networks.
The investor group that is acquiring the company is led by Thoma Bravo and includes the Ontario Teachers’ Pension Plan through its private investor department, Teachers’ Private Capital.
The transaction is subject to customary closing conditions, and Blue Coat expects the transaction to close in the first calendar quarter of 2012.