Blue Coat Systems has signed a definitive agreement to acquire Permeo Technologies for approximately USD 60.8 million. This transaction amount will include approximately USD 13.4 million in cash and approximately USD 47.4 million in Blue Coat common stock, based on the closing price of Blue Coat common stock of USD 45.72 on 30 December 2005.
Permeo is a privately-held company that provides on-demand endpoint access, security and information protection solutions.
With this buyout, Permeo's on-demand endpoint access, security and information protection technology will be integrated with the Blue Coat ProxySG family of proxy appliances. Blue Coat plans to leverage the Permeo technology to extend its proxy infrastructure to provide advanced levels of protection and control to any endpoint connecting to enterprise applications.
Commenting on the decision to acquire Permeo, Brian NeSmith, president and chief executive officer of Blue Coat Systems says, "The technology from Permeo helps us extend our proxy infrastructure for application and security services all the way to the endpoint of the virtual enterprise".
Permeo Technologies’ chief executive officer, Michael S. Bennett also added that, "Combining our on-demand delivery technology for application and security services with Blue Coat's market-leading proxy infrastructure solutions will give customers a whole new level of end-to-end secure content and application delivery". |
