Davis Polk is advising Blue Coat Systems, Inc. in connection with its approximately $1.3 billion acquisition by an investor group led by Thoma Bravo, LLC. The transaction is subject to customary closing conditions, including requisite regulatory approvals and approval of Blue Coat shareholders, and is expected to close in the first quarter of 2012.

Blue Coat Systems is a Sunnyvale, California-based provider of web security and WAN optimization solutions. Thoma Bravo is a San Francisco, California-based private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for 30 years.

The Davis Polk corporate team includes partners William M. Kelly and Sarah K. Solum and associates Stephen Salmon, Jacqueline M. Pace, Emily Roberts and Jason Bassetti. Associate Emma Maconick is providing intellectual property advice. Partner Rachel D. Kleinberg and associate Una Au are providing tax advice. Associate Meyer C. Dworkin is providing credit advice. Counsel Stephen M. Pepper is providing antitrust advice. Counsel Cynthia Akard is providing employee benefits advice. Partner Neal A. Potischman and associates Sandra West, Michael Petrocelli and Stefani Johnson are providing litigation advice. Members of the Davis Polk team are based in the Menlo Park and New York offices.