Symantec To Buy Blue Coat; Are CyberArk, Imperva, Proofpoint Next?
Proofpoint | June 13, 2016
NO. 3 cybersecurity firm Symantec (SYMC) could overtake rivals Check Point Software Technology (CHKP) and Palo Alto Networks (PANW) in terms of market cap, thanks to its $4.65 billion plan to acquire privately held Blue Coat Systems, a cloud security firm.
Symantec on Sunday announced its agreement to acquire Blue Coat, whose CEO, Greg Clark, will become Symantec's CEO. Last month, Symantec CEO Mike Brown announced he would step down, as the company reported fiscal Q4 sales that missed expectations and announced it would cut 1,200 jobs and close a quarter of its offices.