Industry News

Symantec to Buy Blue Coat System for USD4.65 billion

United States: Symantec Corporation, one of the leading company in cybersecurity market globally has announced to acquire Blue Coat for USD4.65 billion in cash deal. Blue Coat is a leading provider of advanced web security solutions for global enterprises and governments and the company has more than 15,000 customers across the globe.

Both the company’s executives would lead the company after the completion of acquisition. In addition, Mountain View, California would become the headquarter for the combined company.

In addition, the acquisition is expected to close in the third quarter of 2016 and Mr. Greg Clark, CEO of Blue Coat will join Symantec as CEO after closing the transition.

For Symantec, J.P. Morgan is acting as lead financial advisor while Barclays, BofA Merrill Lynch, Citi, J.P. Morgan and Wells Fargo Securities are the financial advisors and debt financer for the company. On the other hand, Goldman, Sachs & Co., is a financial advisor to Blue Coat. Moreover, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are the other financial advisors to Blue Coat.

TechSci Research analyses that Symantec is aggressively focusing on enterprise customers. The acquisition of Blue Coat by Symantec would enhance its product offering for enterprises customers as well as would help the company to increase its customer base and revenue globally.

According to the recent report published by TechSci Research, “Global Cyber Security Market By Security Type, By Solutions, By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021”, Global market for cyber security is projected to surpass US$ 137 billion by 2021. Growing trend of Bring Your Own Device (BYOD), rising adoption of cloud computing, expanding market for Internet of Things (IoT) are expected to continue driving the cyber security market across the globe over the next five years. Increasing role of cyber security analytics services to predict the trend of cyber-attacks to help organizations in mitigating financial losses incurred during a cyber-attack, is expected to attract R&D investments in the coming years. Anticipated growth in R&D investments is expected to result in development of advanced cyber security solutions to protect mobile devices, content, personal information, etc., which in turn would stimulate growth in the global cyber security market during the forecast period.

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