Symantec Expands to Cloud With Blue Coat Buy
Symantec has agreed to acquire Blue Coat Systems for $4.65 billion in a deal that not only would expand the cybersecurity firm’s offerings on the cloud, but also give it a new chief executive. The price is almost double what Bain Capital paid in March 2015 to acquire Blue Coat from another private-equity firm, Thomas Bravo. While Symantec has pioneered antivirus software that runs on personal computers, Blue Coat’s technology is used by more than 15,000 companies to block dangerous or inappropriate websites.