Symantec Corp * Greg clark, Blue Coat Ceo, to lead symantec following
closing * Fy18 non-gaap eps expected to be $1.70-$ 1.80 * Will get Blue coat for approximately $4.65 billion in
cash * Transaction has actually been authorized by boards of directors of
both business and is anticipated to close in third calendar
quarter of 2016 * Silver lake to double financial investment to $1 billion * On a pro-forma, non-gaap basis, combined business would
have had $4.4 billion in revenues in 2016
* By end of financial 2018, symantec anticipates to recognize $550.
million in run-rate expense savings * Board of directors will continue to be led by symantec’s.
current chairman * Seifert will continue as primary financial officer * Members of blue coat’s management group also decidinged.
to rollover a considerable portion of their cash and choices into.
* Combined company will be headquartered in mountain view,.
california * Silver lake has actually consented to make an added financial investment of.
$ 500 million in 2.0% convertible notes due 2021 of symantec * Bain capital has actually consented to make a financial investment of $750.
million in convertible notes.
* David humphrey, a managing director of bain capital, will.
be designated to board of directors, reliable at close of.
transaction * Intends to fund transaction with money on balance sheet.
and $2.8 billion of brand-new debt * Focused on paying for a considerable part of debt.
within next a number of years with cash on balance sheet and through.
cash generation * Acquisition is anticipated to be substantially accretive to.
our non-gaap earnings creating significant value for our.
shareholders * Will also continue our practice of paying a quarterly.
dividend to our shareholders * Symantec to acquire blue coat and specify the future of.
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