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Madison Dearborn Partners to Acquire BlueCat
Posted: Thu Feb 23, 2017 12:15:42 PM

BlueCat Networks

MDP’s support will accelerate the expansion of BlueCat’s leading Enterprise DNS solutions

TORONTO, ON – February 23, 2017 – BlueCat Networks (“BlueCat” or “the company”), a leading provider of Enterprise DNS, announced today it has agreed to be acquired by Madison Dearborn Partners (“MDP”), a leading private equity firm based in Chicago. Upon completion of the transaction, BlueCat’s management team will remain in place and retain a significant equity ownership position in the company.

MDP, with its extensive expertise supporting high-growth technology companies, will provide BlueCat with the resources and guidance to accelerate the company’s rapid growth. The investment from MDP will focus on the development and marketing of BlueCat’s innovative and highly automated software-based DNS solutions, including its market-leading solution developed for the largest enterprises in the world that are looking to manage the complexity and security of transitioning to the cloud. MDP’s investment will also support the company as it launches DNS Security, a cloud-based solution that leverages the power of DNS data through advanced behavioral models and DNS query analytics to provide customers with internal and external threat detection and prevention.

“This is an incredibly exciting time for BlueCat,” said Michael Harris, CEO of BlueCat, “We have prioritized the needs of enterprise customers by taking a uniquely software-centric approach to our delivery model, and that strategy has propelled BlueCat to the forefront of the industry. MDP recognizes BlueCat’s valuable position within our customers’ infrastructure and our tremendous growth prospects. With the added resources and expertise of MDP, BlueCat will be strongly positioned to accelerate our growth.”

“We are thrilled to be partnering with MDP as we embark on our next growth chapter,” said Michael Hyatt, BlueCat’s Co-founder, who is also retaining an equity ownership interest in the company. “BlueCat has established itself as an integral partner to many of the world’s leading companies and, alongside MDP, will remain focused on delivering solutions to manage increasingly complex network infrastructure needs. In addition, we would like to thank our investors Trident Capital and Northleaf Capital Partners for believing in our vision and for their unwavering support and assistance in growing the company. They have been excellent partners.”

“BlueCat is a leader in a high-growth, in-demand sector of the global enterprise IT industry, and we look forward to partnering with Michael Harris and his talented management team to build upon the company’s momentum,” said Doug Grissom, a Managing Director at MDP and head of the firm’s Business and Government Services team. “Enterprises around the world are experiencing a growing need to adopt enterprise DNS solutions to manage the rapid increase in scale and complexity of their IT networks. We look forward to utilizing our expertise in high-growth technology companies to help BlueCat realize its growth prospects, while continuing to deliver critical solutions to customers.”

Houlihan Lokey’s TMT Group was the sole financial advisor to BlueCat, and Evercore was the sole financial advisor to MDP. Terms of the transaction were not disclosed. The completion of the transaction, which is expected to close early in the second quarter of 2017, is subject to regulatory approvals and other customary closing conditions.

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