Bain Capital agreed to buy Blue Coat Systems Inc., a provider of Internet security software, for $2.4 billion from private equity firm Thoma Bravo.

Bain is paying all cash, according to a statement Tuesday from Sunnyvale, California-based Blue Coat. The company expects the transaction to be completed in the first half of 2015.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.