Symantec To Buy Web Security Company Blue Coat for $4.6 Million

Symantec agreed to buy web security company Blue Coat for $4.65 billion in cash, it said Monday. Blue Coat CEO Greg Clark will be named CEO of Symantec after the close of the deal in Q3, succeeding Ajei Gopal, interim chief operating officer, it said. The combined operations will offer security solutions across hundreds of millions of endpoints and servers and billions of email and web transactions, said Symantec. The combined company will help enterprises secure their cloud offerings and consolidate R&D efforts, bringing together more than 3,000 engineers and researchers and nine threat response centers, it said.