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Blue Coat to Acquire Packeteer
Blue Coat to acquire Packeteer to offer comprehensive solution for WAN optimization
April 21, 2008
1 Min Read
SUNNYVALE, Calif. -- Blue Coat Systems, Inc. (Nasdaq: BCSI), the leader in WAN Application Delivery and Secure Web Gateway, today announced that it has signed a definitive agreement with Packeteer, Inc. (Nasdaq: PKTR), a leader in WAN optimization and WAN traffic prioritization technologies, under which Blue Coat will acquire Packeteer for $7.10 per share in cash, or approximately $268 million. The acquisition is expected to be accretive on a non-GAAP basis in the second full quarter of combined operations.
The acquisition is expected to deliver the following strategic benefits to Blue Coat:
Blue Coats ability to incorporate key Packeteer® technologies into the Blue Coat® ProxySG® family of appliances to provide increased application understanding and traffic prioritization capabilities
Additional revenue from the sales, support and development of the PacketShaper® product
Increased penetration of the WAN optimization market with the addition of Packeteer’s well-developed global sales distribution channel to Blue Coat’s existing channel
Expansion of Blue Coat sales opportunities through cross-selling to newly added Packeteer customers
Extended leadership for Blue Coat in the WAN optimization market
Significant cost savings and revenue synergies through organizational economies of scale
“WAN optimization is the starting point for adding the next layer of intelligence to the corporate network,” said Brian NeSmith, president and chief executive officer, Blue Coat Systems. “The acquisition of Packeteer will enable us to extend our leadership in solving branch office application performance challenges and addressing security threats by adding an extensive, experienced sales channel, integrating our sales organizations and by reinvigorating the well-regarded PacketShaper product and adding it to our solution set. At the same time, we will begin to aggressively integrate Packeteer technologies with our own to continue building the next critical layer above the router.”
Blue Coat Systems Inc.
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