IPO called off as Symantec swoops in on Blue Coat

A few weeks after Blue Coat announced its intention to file for IPO, plans have changed as Symantec announced its intention to acquire Blue Coat for an eye-watering $4.7bn.

For Blue Coat it will be the third change of hands since 2011, with its price almost doubling every time.

In 2011, Thoma Bravo picked up Blue Coat for $1.3bn.

A few years later, Blue Coat changed hands from Thoma to Bain Capital for $2.4bn.

Now it changes hands again to Symantec for $4.7bn. Making it quite a bump in valuation.

Breaking the Fourth Wall
Since splitting with Veritas, eyes have been on Symantec as to its next move. It would have had to be a big one to make a dent and organic innovation would have been too slow.

With this acquisition, Symantec not only brings on board a wide range of technical capabilities, but Blue Coat CEO Greg Clark will also take the helm of the combined entity. A move almost unheard of.

Still, acquiring complimentary technology under one roof is one thing. Actually integrating them in a meaningful manner where customers can truly benefit from a unified platform is quite another. Symantec will have its work cut out for it in order to drive real change that is visible to the consumer.