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Blue Coat Inc.
On June 2, 2016, Bl8ue Coat Inc. filed a registration statement to go public: sec.gov
From the registration statement: We are a leading provider of advanced web security solutions for global enterprises and governments. Our mission is to protect enterprises and their users from cyber threats – whether they are on the enterprise network, on the web, in the cloud or mobile. Enterprise users have expanded beyond employees working exclusively in a corporate office operating behind a network firewall, to mobile workers capable of accessing many corporate applications in the corporate data center or in the cloud using any device. The expanding enterprise network has increased the vulnerability of corporate networks at a time when the number and severity of cyber-attacks has escalated significantly. Threats that target users are particularly damaging and increasing in frequency. We believe as web traffic continues to grow exponentially, the proportion of web traffic that currently flows through the SSL as encrypted traffic will increase rapidly, and currently exceeds 50% of all web traffic in certain industries. Many organizations do not have adequate decryption capabilities and therefore encrypted web traffic can be used to hide malicious activities. At the same time, organizations are undergoing fundamental shifts in technology, including rapid adoption of cloud-based applications, increased remote user connectivity, and consumerization of IT. These shifts have required a new paradigm in security that is focused on the user and user activities, as the traditional network- and device-centric security models face significant limitations. A security solution in the cloud generation must be able to continuously categorize changing websites, inspect all traffic running through an organization, allow users to utilize modern applications and technologies, and secure users wherever they are and however they access data in the expanding enterprise network.
Company website: bluecoat.com
SEC filings: sec.gov
When the company went public on November 19, 1999, it raised $138 million through the sale of 5,750,000 shares at a price of $24 per share ($120 per share when you adjust for a subsequent reverse split). The stock started trading at $110 per share, up $86 from its offering price, and closed the day at $126.38. The stock subsequently traded as high as $182.19 per share ($910.95 per share when you adjust for a subsequent reverse split). When the Bubble burst, the stock traded as low as $.45 per share before executing a one-for-five reverse split on September 16, 2002.
The company was named CacheFlow, Inc. when it went public 1n 1999, and was self-described as “a leading provider of Internet caching appliances that accelerate and manage the flow of information over the Internet. We focus exclusively on designing, developing, marketing and supporting products that are specifically designed, or purpose-built, for high-performance Internet caching.” By 2002, the company had changed its business plan, morphed into its current incarnation and changed its name to Blue Coat Systems Inc.
Thomas Bravo acquired the company in December 2011 for $1.3 billion, taking it private. In March 2015, Bain Capital purchased the company for $2.4 billion.
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