Blue Coat Systems to acquire Packeteer Inc

Business
Blue Coat Systems to acquire Packeteer Inc
Blue Coat Systems to acquire Packeteer Inc

Blue Coat Systems (NASDAQ: BCSI), the maker of proxy server appliances used for WAN optimization, is going to acquire Packeteer (NASDAQ: PKTR) for $268 million.

Earlier this year Packeteer was offered another deal - hedge fund Elliott Associates wanted to buy the company for about $200.6 million – but the company rejected the offer.

The acquisition will help Blue Coat fill firm in the WAN optimization market.

Merrill Lynch & Co. was an exclusive financial advisor to Blue Coat in connection with the deal.