Blue Coat Systems of the U.S., specialising in application delivery networking (ADN), has acquired majority interest in S7 Solutions Pvt. Ltd. of Bangalore and announced it will become Bluc Coat’s fifth development centre and the first outside the U.S. Blue Coat had revenues of $500 million in 2009.
Blue Coat had acquired 83 per cent stake now in S7 and would soon acquire the remaining 17 per cent equity after negotiating with Indian regulators and minority shareholders, Senior Vice-President Brian Bell told reporters here on Tuesday. The entire deal would cost $5.25 million, he added.
Manjunath Gowda, a promoter of S7, said the new identity would help strengthen relationships with customers like TCS, Wipro and Datacraft. The present strength of 75 engineers would grow to 100 over the next year.
