Bain Capital to sell Blue Coat for $4.65 bln

Symantec said June 12 that it agreed to buy Blue Coat Inc in a deal valued at $4.65 billion. Bain Capital, the seller, has agreed to make an investment of $750 million in the convertible notes while Silver Lake agreed to make an additional investment of $500 million in notes (that’s on top of $500 million it agreed to invest in Symantec earlier this year, the Wall Street Journal said). Blue Coat is a network security company. Symantec plans to finance the deal with cash on the balance sheet and $2.8 billion of new debt.

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