Blue Coat acquires Packeteer for $7.10 per share

By Lisa Kerner

Charlotte, N.C., June 9 - Blue Coat Systems, Inc. said it can now provide a more comprehensive wide area network (WAN) application delivery solution to its customers with the completed acquisition of Packeteer, Inc.

With the acquisition, Blue Coat gains an additional 10,000 customers worldwide and more than 1,400 new channel partners, according to a Blue Coat news release.

"The unique combination of our ProxySG appliance, that can see what the user sees, with the PacketShaper technologies, that can understand what applications are traversing the network, will enable IT to assure application delivery and end user productivity in a way that no other product can," Blue Coat president and chief executive officer Brian NeSmith said in the release.

"This is a compelling value proposition that we believe channel partners will want to sell, and customers will demand," NeSmith added.

Blue Coat noted that all remaining outstanding Packeteer shares, other than those held by stockholders who properly perfect appraisal rights, were converted into the right to receive $7.10 per share in cash.

The subsequent offering for Packeteer shares ended June 5.

Packeteer now operates as a wholly owned subsidiary of Blue Coat.

It was previously reported that Blue Coat agreed to acquire Packeteer, a Cupertino, Calif., network technology company, for $7.10 per share in a deal valued at $268 million.

Blue Coat provides hardware appliances and software for controlling and securing web-based communications in the secure internet gateway and WAN application delivery markets. The company is based in Sunnyvale, Calif.

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