Symantec set to buy Blue Coat Systems in $4.65b deal

Symantec Corp agreed to buy Blue Coat Systems Inc in a $4.65 billion deal that will give the computer-security company a new portfolio of cyberdefense technologies along with a new chief executive, reports The Wall Street Journal.
Blue Coat Chief Executive Greg Clark is set to take that role at Symantec after the deal closes, which is expected to occur before October, the companies announced late Sunday. Symantec has been searching for a new CEO ever since Michael Brown stepped down in April amid disappointing financial results.
In moves representing votes of confidence on the deal, private-equity firm Bain Capital LLC, which controls Blue Coat, will invest $750 million of the proceeds back into the combined company.

Symantec set to buy Blue Coat Systems in $4.65b deal

Symantec Corp agreed to buy Blue Coat Systems Inc in a $4.65 billion deal that will give the computer-security company a new portfolio of cyberdefense technologies along with a new chief executive, reports The Wall Street Journal. Blue Coat Chief Executive Greg Clark is set to take that role at Symantec after the deal closes, which is expected to occur before October, the companies announced late Sunday. Symantec has been searching for a new CEO ever since Michael Brown stepped down in April amid disappointing financial results. In moves representing votes of confidence on the deal, private-equity firm Bain Capital LLC, which controls Blue Coat, will invest $750 million of the proceeds back into the combined company.