Blue Coat Systems, Inc., a Sunnyvale, Calif.-based enterprise security solutions provider, has announced that it will be acquired by Bain Capital for $2.4 billion.
Bain is acquiring the company from Thoma Bravo, LLC., according to Blue Coat's press release. The acquisition sets the company up to go public again - went private when it was sold to Thoma Bravo for $1.3 billion in 2012.
Blue Coat counts 80 percent of Fortune 500 companies among its customers and has grown its revenue by 50 percent over the last three years.
“There's been a tremendous amount of growth in the top and bottom line in the last couple years, and we don't see that stopping any time soon,” said Mike Fey, president and COO at Blue Coat in an interview with SCMagazine.com. “We believe we would make for a very interesting property on the public markets.”
The company has previously made its own acquisitions to expand its solutions to advanced threat defense, security analytics and encrypted traffic management.
Also this week, PayPal announced that it will be establishing a cyber security center in Israel and acquired CyActive to help with the launch.
The acquisition is rumored to be worth $60 million, Reuters reported. CyActive predicts how malicious software will develop and offers enterprise solutions.