Blue Coat Systems acquires S7 Software Solutions

Fri Feb 12, 2010 6:29pm IST

Related Topics

Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

Nasdaq-listed Blue Coat is paying $5.25 million in cash to acquire all the shares of S7 Software.

Blue Coat Systems, Inc, a California-based technology provider in application delivery networking, has acquired majority stake in S7 Software Solutions Pvt Ltd, an IT research and development firm in Bangalore. The company further intends to acquire the remaining stake in S7 after getting regulatory approval from the Indian government.

Nasdaq-listed Blue Coat is paying $5.25 million in cash to acquire all the shares of S7 Software, it said in a statement. With this acquisition, Blue Coat Systems now has additional 50 software professionals in its fold.

The company has acquired the stake in S7 Software in the last week of January, 2010, though it did not divulge the actual percentage of the stake it currently holds in the company.

With this new center, Blue Coat plans to focus on management, reporting and client software products. It plans to upgrade S7 Software into one of its four major product development centers around the world, and will hire new employees over the next several months.

"Our new center builds on the expertise and established momentum of S7 Software to immediately advance our development work. With this, we can accelerate our pace of innovation and increase the return on investment to our stockholders,” Brian Ball, senior vice president and general manager, Blue Coat, said in the statement.

S7 Software is a provider of software migration products and services. It offers services to companies in verticals including banking, finance, insurance, automotive, retail, utilities and education. Some of its clients include Sun Microsystems, HP, Microsoft, Corporate Safe, Marconi, Alcatel, Oracle, Open Systems and Invensys.

Blue Coat Systems offers network security and network management services. Earlier in 2008, it has acquired Packeteer, a networking management company in California.

-- Copyright 2009 VCCircle.com. All rights reserved.

This content/article is provided by Mosaic Media Ventures Private Limited and not by Reuters. All rights, including copyright, in this content/article provided by VCCircle.com are owned or controlled by Mosaic Media Ventures Private Limited. The content may not be copied, broadcast, downloaded and stored (in any medium), transmitted, adapted or changed in any way whatsoever without the prior written permission of Mosaic Media Ventures Private Limited.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Telecom Sector

REUTERS SHOWCASE

Election 2014

Election 2014

Breakingviews: Singh wasn’t king, Modi could be  Full Article 

Quarterly Results

Quarterly Results

Ambuja net profit up 6.6 percent, expects recovery after elections  Full Article 

Conspiracy Lawsuit

Conspiracy Lawsuit

Apple, Google agree to pay over $300 million   Full Article 

Stock Split Trend

Stock Split Trend

Trend-setter Apple's stock split could bring out the copycats  Full Article 

Winning Start

Winning Start

Microsoft beats Wall Street on new CEO debut   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage