NewsCyber security provider, Cyber Security, Blue Coat Systems, go public next year
Dec 10, 2015 03:15 AM EST
Network security firm Blue Coat Systems Inc is in talks with investment banks for an initial public offering after it was acquired by Bain Capital Partners LLC in March.
The company is expected to go public during the second quarter of 2016, according to Reuters. Bain Capital bought Blue Coat from private equity company Thoma Bravo LLC for $2.4 billion. Blue Coat became private after Thoma Bravo acquired it for $1.3 billion in February 2012.
According to Bloomberg News, internet security ranks high on the list of concerns among America's big companies, especially after giant firms like JPMorgan Chase & Co. and American Airlines Group Inc. became victims of massive cyber attacks in the past several years. Blue Coat provides for this demand with their online security services, which can detect imminent hacking.
Silicon Valley Business Journal reported that the amount of investments by private equity firms on internet security companies in the U.S. has drastically increased to $113.9 billion from $2.1 billion during the past three years.
Just last month, Blue Coat agreed to buy cloud security startup company Elastica for an amount of $280 million.
As an increasing number of high-profile corporations become vulnerable to cyber attacks Blue Coat's Chief Technology Officer and Senior Vice President Dr. Hugh Thompson predicts more breaches on cloud services and an increase in mobile malwares and ransomware in 2016.
On a more positive note, Thompson also expects companies to enhance their response and analysis capabilities against these hackers. The enterprise security landscape is constantly developing as tools for this service have been evolving very quickly. However, hackers are evolving at a faster rate.
Thompson said that hackers will find new methods to access data from companies, especially as most of the valuable data are stored in cloud services. These bad actors can gain access to these cloud accounts by using social engineering strategies that can mimic log in pages to gain the information needed.
Thompson also believes that hackers will be focusing their attacks on phones, tablets and other mobile devices in the next following years.