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Blue Coat clinched an agreement to buy WAN optimization specialist Packeteer for $268 million this morning and plans to build the vendors PacketShaper software into its own Proxy SG appliances.
Under the terms of the deal, Blue Coat will acquire privately traded Packeteer for $7.10 per share in cash, totaling $188 million, plus $80 million in convertible notes.
Blue Coat will now build PacketShapers QOS, application classification, and traffic management features into its own hardware, according to Blue Coat CEO Brian NeSmith.
We plan to upgrade our own Proxy SG operating system with the PacketShaper features by the end of 2009, offering our customers a single unified appliance, he said during a conference call this morning. Our custom OS should facilitate the integration of the technologies in a straightforward way.
The deal, which is expected to close in the second quarter of this year, comes just weeks after Cupertino, Calif.-based Packeteer received an unsolicited acquisition proposal from Elliott Associates LP and Elliott International L.P.
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