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Cyber security firm Blue Coat Systems in IPO talks: source
December 7, 2015 / 11:41 PM / 2 years ago

Cyber security firm Blue Coat Systems in IPO talks: source

(Reuters) - Network security company Blue Coat Systems Inc is interviewing banks for an initial public offering, according to a person familiar with the matter who requested anonymity because the deliberations are confidential.

The IPO could come as early as the second quarter of 2016, Bloomberg reported on Monday, citing people familiar with the matter. (bloom.bg/1m7zxA5)

Bain Capital LLC agreed to acquire Blue Coat in March from fellow private equity firm Thoma Bravo LLC in a deal that valued it at about $2.4 billion, including debt.

Bain declined to comment.

Blue Coat had earlier been taken private in February 2012 for $1.3 billion by San Francisco-based Thoma Bravo.

The IPO move follows a spate of high-profile breaches that have crippled businesses and rattled conglomerates such as Sony Corp and Target Corp.

Blue Coat’s products are used to speed up data flow over the Internet and block inappropriate websites and cyber attacks.

Reporting by Gui Qing Koh in New York; additional reporting by Kshitiz Goliya in Bengaluru; Editing by Maju Samuel

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