Monday, June 6, 2016

Blue Coat Queues Up For IPO

Sunnyvale-based Blue Coat Systems, the developer of network security products owned by Bain Capital, filed for an IPO last week, saying that it is looking to raise up to $100M in an IPO on the New York Stock Exchange as BLCT. The IPO is being underwritten by Morgan Stanley, J.P. Morgan, Credit Suisse, Goldman Sachs & Co, Jefferies, UBS Investment Bank, RCB Capital Markets, Wells Fargo Securities, Cowen and Company, Pacific Crest Securities, Piper Jaffray, and William BLair. Bain Capital acquired Blue Coat last year, in a deal worth approximately $2.4 billion, and currently owns 75.6 percent of the company, with Future Fund Investment Company No. 5 Pty Ltd holding 7.7 percent.