Blue Coat Systems Inc. announced that it has acquired Perspecsys, a venture-backed provider of enterprise cloud data protection solutions. According to the company's press release: "With this acquisition, Blue Coat significantly expands its cloud security offerings while enhancing the industry’s most robust hybrid cloud portfolio. This expanded portfolio positions Blue Coat as a leader in the Cloud Access Security Broker (CASB) segment and sets a new bar for data protection within cloud applications."
Perspecsys' Cloud Data Protection platform makes public clouds private by ensuring key data compliance, privacy and security for enterprises adopting cloud-based applications. Investors included Intel Capital, Paladin Capital, and Ascent Venture Partners.
Terms of the deal were not disclosed.
AirBoss of America Corp. announced that it has completed the acquisition of Immediate Response Technologies LLC (IRT). The deal was initially announced on June 17, 2015. IRT is a provider of personal protection and safety products for CBRN hazards, as well as communicable diseases and respiratory threats for the individual, first responder, medical, military, law enforcement, fire and industrial communities. The company designs and manufactures rapidly deployable CBRN protection, decontamination, rapidly deployable and expeditionary shelters, medical isolation shelter systems, respiratory protection systems and filter canisters.
The acquisition was made through AirBoss' US subsidiary AirBoss-Defense Inc., which acquired all of the membership interests of IRT through an initial all cash transaction of approximately $37 million (subject to working capital adjustments), and additional payments in cash and equity of approximately $25 million based on achieving performance objectives over the 60 month period following the closing. IRT is expected to generate 2015 revenues of $30 million and EBITDA of between $8 million and $9 million. The initial consideration multiples are 1.2x revenue and between 4.1x and 4.6x EBITDA. The total consideration multiples (including maximum earnout) are 2.1x revenue and between 6.9x and 7.8x EBITDA.
National Bank Financial Inc. was the financial advisor to AirBoss. Davies Ward Phillips & Vineberg LLP was legal counsel for AirBoss.
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