AVG Tech (AVG) Lower as Blue Coat Makes Another Purchase
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AVG Technologies (NYSE: AVG) is poised for a lower open Wednesday following reports that competition will be getting a little more fierce.
According to a press release earlier, Blue Coat Systems announced that it "has entered into an agreement to acquire Solera Networks, the industry's leading provider of big data security intelligence and analytics for advanced threat protection."
The release also noted that customers of Solera include "organizations around the world in many market segments, including the Departments of Energy, Homeland Security and Defense, Hitachi, Qualcomm, Overstock.com, Parsons Corporation and Zions Bank. For these customers, Solera's DeepSee platform helps defend against advanced persistent threats and targeted malware attacks."
Terms of the deal were not disclosed.
Blue Coat was acquired by private equity outfit Thoma Bravo in late 2011 for $1.3 billion.
As a reminder, AVG Technologies "engages in the development and sale of Internet security software and online service solutions under the AVG brand name."
Shares of AVG are down 0.7 percent early.
According to a press release earlier, Blue Coat Systems announced that it "has entered into an agreement to acquire Solera Networks, the industry's leading provider of big data security intelligence and analytics for advanced threat protection."
The release also noted that customers of Solera include "organizations around the world in many market segments, including the Departments of Energy, Homeland Security and Defense, Hitachi, Qualcomm, Overstock.com, Parsons Corporation and Zions Bank. For these customers, Solera's DeepSee platform helps defend against advanced persistent threats and targeted malware attacks."
Terms of the deal were not disclosed.
Blue Coat was acquired by private equity outfit Thoma Bravo in late 2011 for $1.3 billion.
As a reminder, AVG Technologies "engages in the development and sale of Internet security software and online service solutions under the AVG brand name."
Shares of AVG are down 0.7 percent early.
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