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What: Shares of networking specialist Blue Coat Systems
So what: San Francisco based private equity firm Thoma Bravo is picking up the company in a $1.3 billion all-cash deal. The agreement values Blue Coat at $25.81 per share, a massive 48% premium over yesterday's close.
Now what: Blue Coat has had its fair share of troubles in recent times, from ditching its CEO in August to falling revenue (even if it beat expectations). The company has been suffering at the hands of able competitors like Websense
Interested in more info on Blue Coat Systems? Add it to your watchlist by clicking here.
Fool contributor Evan Niu owns shares of Riverbed Technology, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of Riverbed Technology. Motley Fool newsletter services have recommended writing covered calls in Riverbed Technology. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.