Bain Capital acquires Blue Coat Security for $2.4 billion

The enterprise security company went private in 2011 when purchased by private equity firm Thoma Bravo, and now a return to the public market is in the horizon.

Blue Coat Systems, an enterprise security company specializing in corporate networking and hardware, confirmed on Tuesday it has been acquired by Bain Capital for approximately $2.4 billion.

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The transaction is expected to close during the first half of 2015.

Goldman Sachs is serving as financial advisor to Blue Coat with Wilson Sonsini Goodrich & Rosati acting as the legal advisor.

Jefferies is acting as sole financial advisor to Bain Capital with Ropes & Gray acting as legal counsel and PricewaterhouseCoopers tapped for accounting for the private investment firm.

The Sunnyvale, Calif.-based company went private in 2011 when purchased by private equity firm Thoma Bravo -- Blue Coat's owner up until now -- in a deal valued at $1.3 billion.

Since then, Blue Coat's own acquisition history includes big data firm Solera and the SSL appliance product line from fabless semiconductor maker Netronome, both in 2013.

Since its acquisition by Thoma Bravo three years ago, Blue Coat boasted it now counts approximately 80 percent of the Fortune 500 as customers of its on-premise, hybrid and cloud-based solutions.

David Humphrey, a managing director at Bain Capital, noted in the announcement that Blue Coat will continue to grow "organically and through acquisitions" as the tech brand plots its return to public markets.