[cryptography] Symantec to Acquire Blue Coat and Define the Future of Cybersecurity

Jeffrey Walton noloader at gmail.com
Sat Jul 2 15:39:16 EDT 2016

It feels like there's a loss of separation of concerns between CA unit
and the Interception unit under the Symantec umbrella. Given
Symantec's track record, I'm kind of suspicious.


MOUNTAIN VIEW, Calif. and SUNNYVALE, Calif. – June 12, 2016 – Symantec
(NASDAQ: SYMC) and Blue Coat, Inc. today announced that they have
entered into a definitive agreement under which Symantec will acquire
Blue Coat for approximately $4.651 billion in cash. The transaction
has been approved by the Boards of Directors of both companies and is
expected to close in the third calendar quarter of 2016. Greg Clark,
Chief Executive Officer of Blue Coat, will be appointed Chief
Executive Officer of Symantec and join the Symantec Board upon closing
of the transaction.

Blue Coat is the #1 market share leader and share gainer in Web
Security with a widely recognized portfolio of integrated technologies
serving as a trusted platform to deliver Cloud Generation Security to
more than 15,000 customers worldwide. For Blue Coat’s fiscal year
ending April 30, 2016, GAAP revenue was $598 million and non-GAAP
revenue was $755 million, with 17% year-over-year growth, supported by
new products and new customers. For the same time period, the company
had non-GAAP operating margins of 22% and cash flow from operations of
$135 million. Also for this time period, GAAP operating margins were

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