July 11, 2016 / 8:18 PM / a year ago

Symantec names Fey COO as it prepares to close Blue Coat deal

The Symantec logo is pictured on a screen in Singapore June 13, 2016. REUTERS/Thomas White

(Reuters) - Cyber security firm Symantec Corp said on Monday it planned to appoint Michael Fey to the post of president and chief operating officer as it prepares to purchase his company, Blue Coat, for $4.65 billion.

Fey currently serves as president and COO of Blue Coat. After the deal closes, Fey will report to Greg Clark, who is now Blue Coat’s CEO and is slated to take the helm of Symantec.

The two companies announced the deal a month ago, saying they expect it to be completed during the third calendar quarter of this year.

Reporting by Jim Finkle in Boston; Editing by Andrew Hay

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