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The director's of WAN optimisation specialist Blue Coat have recommended shareholders back an acquisition by a US investor group Thoma Bravo in a deal worth $1.3bn.
Blue Coat will continue to focus on WAN optimisation and security but has opted to make the move after carrying out a strategic review of its options which concluded a sale was the best decision.
"Over the last six months, our board of directors engaged in a comprehensive review of all strategic options available to Blue Coat," said David W. Hanna, chairman of the board at Blue Coat Systems.
"After an extensive evaluation of strategic alternatives with our independent advisors, the Board has determined that the definitive agreement with Thoma Bravo provides an attractive all-cash valuation to our shareholders," he added.