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Blue Coat Said to Take IPO Pitches 9 Months After Bain Takeover

  • Major cyber attacks spur interest in Internet security assets
  • Public offering would be second quick exit for PE backers

Blue Coat Systems Inc., a provider of Internet security software, is taking pitches from investment banks for an initial public offering just nine months after being acquired by private equity firm Bain Capital Partners LLC, people familiar with the matter said.

An IPO could come as early as the second quarter of 2016, the people said, asking not to be named because the discussions are private. No final decision has been made and Bain may choose not to proceed with an offering, the people said.