Blue Coat Systems agrees to be bought by a private equity firm for about $1.3 billion. The buyout will buy out shareholders for a 48% premium over what the company’s stock sold for yesterday. Blue Coat is operating under its third CEO since September when Michael Borman took over for Brian Nesmith. The company’s numbers declined steadily under Borman, and its board started re-evaluating what to do with it about six months ago, company says. The upside is that the company won’t have to respond to quarterly pressures from Wall Street.”]
Source: https://www.csoonline.com/article/2130412/private-investment-firm-buys-blue-coat-for–1-3b.html