News: The company plans to pay off debt and invest in new products.
US cyber security firm Blue Coat has filed for a $100m IPO, but has remained tight-lipped over the number of shares to be offered and the price range for the offering.
Morgan Stanley, J.P. Morgan, Credit Suisse and Goldman, Sachs are acting as lead joint book-running managers and as representatives of the underwriters for the offering.
Jefferies, UBS Investment Bank, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering.
Bain Capital acquired Blue Coat for $2.4bn in May 2015 after the company was taken private in 2012 for $1.3bn by a consortium led by US private equity firm Thoma Bravo.
The price in a registration statement with the US Securities and Exchange Commission is below several reports, which said Blue Coat was planning to raise $500m.
Blue Coat provides advanced web security solutions for global enterprises and governments, protecting 15,000 organisations.
The Blue Coat Security Platform helps in uniting network, security and cloud, protecting enterprises and their users from cyber threats, irrespective of their location, whether they are on the network, on the web, in the cloud or mobile.
Blue Coat reported revenues of $598.3m in its fiscal 2016 which ended 30 April. Revenues were $631.3m for 2015 and $606.5m for 2014.
Losses for 2016 were $281.1m, which includes implications of the Bain acquisition.
Blue Coat reported losses of $15.4m and $51.3m for fiscal 2015 and 2014, respectively.
Last December, Blue Coat signed a major worldwide agreement with Dimension Data to deliver its global managed cloud web security service.