Thoma Bravo picks up Blue Coat Systems for $1.3bn


Chicago-based private equity firm Thoma Bravo has led a consortium of investors in a $1.3bn all cash buy-out of Blue Coat Systems, a maker of enterprise security and network software.

According to news reports, the consortium, which includes the Ontario Teachers’ Pension Plan, will pay Blue Coat’s shareholders $25.81 per share, representing a 48 per cent premium to the company’s closing price on Thursday last week.

In June this year Thoma Bravo sold Manatron, a provider of property tax automation and land registry software, to Thomson Reuters.

Manatron provides software and services for governments worldwide to completely, fairly and efficiently assess real and personal property, and to bill and collect the related property taxes in their jurisdictions.

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