Blue Coat, a Bain Capital-backed network security and optimization solutions provider, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. The deal size is likely a placeholder for an IPO that we estimate could raise $500 million.
The Sunnyvale, CA-based company was founded in 1996 and booked $598 million in sales for the 12 months ended April 30, 2016. It plans to list on the NYSE under the symbol BLCT. Morgan Stanley, J.P. Morgan, Credit Suisse and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
