Indian IT firms, especially in the mid-tier segment, have seen a rise of private equity firms placing stakes on them. While faster technology at mid-size IT services companies have attracted PE firms such as Blackstone, Carlyle, ChrysCap, Bain Capital, The Baring Asia and others to invest in the sector; PE-backed companies have seen faster growth at a time when their large listed peers slowed down due to uncertain market.
On 12 June, 2016 Symantec announced its agreement to acquire Blue Coat for USD 4.65 billion.
As a result of this acquisition, the company will now have 385,000 customers, a vast repository of data sources and over 3,000 researchers and engineers worldwide. Post this acquisition, Symantec will have USD 4.4 billion in combined revenue (on pro-forma, non-GAAP basis) in FY16. By the end of FY18, Symantec expects to realise USD 550 million in run-rate cost savings. In addition, the combined entity will have access to vast Security and Threat Intelligence data sources including Telemetry gathered from 175 million protected endpoints; more than 2 billion emails scanned per day; 1.2 billion web requests monitored per day across 55 languages; 12,000 Cloud applications monitored and controlled.