Symantec Completes Blue Coat Acquisition: Creates ‘Largest Pure Play Cyber Security Company’

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Symantec announced Monday that it has successfully completed its acquisition of Blue Coat, Inc., a provider of web security for enterprises and governments worldwide. The acquisition of Blue Coat complements Symantec’s innovative product portfolio and creates the industry’s “largest pure play cyber security company,” said Symantec.

The combined company would have had approximately $4.2 billion in GAAP pro forma revenues in fiscal year 2016, of which 60% would come from enterprise security.

On a pro forma, non-GAAP basis, the combined company would have had $4.4 billion in revenues in fiscal year 2016, of which 62% would come from enterprise security.

“At a time when the world faces more threats than it’s ever encountered before, I couldn’t be more confident in our ability to deliver what our customers need or more honored to lead Symantec’s next chapter of innovation and growth,” said Greg Clark, Symantec CEO in a prepared statement.

“With Blue Coat now part of Symantec, we are well positioned to solve the industry’s most difficult challenges of securing a mobile workforce, protecting the cloud and stopping advanced threats,” he added.

The combined company will be headquartered in Mountain View, Calif.