Thoma Bravo Acquiring Blue Coat Systems For $1.3 Billion

Posted Dec 11, 2011

Thoma Bravo is a Chicago-based private equity firm that focuses on software and technology businesses. Some of the companies in their portfolio include Attachmate, Entrust, LANDesk Software, SonicWALL Inc., and Tripwire Inc. Now Thoma Bravo is acquiring Blue Coat Systems, Inc. (NASDAQ:BCSI) for about $1.3 billion.

Stockholders will receive $25.81 per share, which is a premium of 48% over the most recent closing price and 52% of the 20-day trailing average. Blue Coat is Thoma Bravo’s fifth biggest security-technology investment.

Blue Coat was founded in 1996 and makes software that increases web security and makes video applications run faster. The Ontario Teachers’ Pension Plan is one of the buyers. Goldman Sachs advised Blue Coat and Jefferies Group advised Thoma Bravo.