From PC World: Security company Symantec is to acquire Web security provider Blue Coat for US$4.65 billion in cash in a deal that will broaden the portfolio of security technologies the combined company can offer customers as they move to the cloud.
The deal, which is expected to be closed by the third quarter, will also see Greg Clark, CEO of Blue Coat, taking over as CEO of Symantec and joining its board at the the closing of the transaction. Symantec, well-known for its anti-virus software, has been looking out for a new CEO since April after it was announced that its CEO Michael Brown was stepping down, following poor financial results. Ajei Gopal was appointed as interim president and chief operating officer.
The acquisition will combine Symantec’s threat monitoring capabilities with Blue Coat’s network and cloud security offerings to protect customers across cyber endpoints, email, Web, network and servers, Symantec said late Sunday. It said that its data loss prevention capabilities will be applied at the Web proxy and to over 12,000 cloud applications. The combined company, with headquarters in Mountain View, California, will have over 3,000 engineers and researchers, as well as nine Threat Response Centers.
The combined company is expected to have $4.4 billion in revenues in fiscal year 2016, of which 62 percent is to come from enterprise security.
View: Article @ Source Site
