IT solutions provider Riverbed Technology to be acquired by Vector Capital
Private equity firm Vector Capital has announced its agreement to acquire Riverbed Technology, a California-based IT solutions provider focused on delivering secure and seamless digital experiences while enhancing enterprise performance for global corporations.
As part of the deal, Riverbed Technology will be supported by its existing lenders, who will provide a new credit facility upon closing. The financial terms of the transaction have not been disclosed.
Andy Fishman — Vector Capital Managing Director said: “Riverbed is a premier brand in the networking and IT observability sectors with a strong portfolio of market-leading products that we are proud to invest behind. We look forward to working with Riverbed’s management team to execute on the Company’s growth strategy.”
Since its establishment in 2002, Riverbed Technology has been instrumental in empowering digital experiences and driving enterprise performance for some of the world’s largest organizations, including 95% of the FORTUNE 100 companies.
The company’s solutions, namely Alluvio by Riverbed for Unified Observability and Riverbed Acceleration, enable customers to transform data into actionable insights and achieve fast, agile, and secure application acceleration across any network.
Alluvio by Riverbed stands out as a distinct Unified Observability portfolio that unifies data, insights, and actions across IT, allowing customers to deliver seamless and secure digital experiences. Meanwhile, Riverbed Acceleration provides rapid, flexible, and secure acceleration of applications, irrespective of the network, ensuring users can access them from any location.
Dan Smoot — Riverbed Technology President and CEO said: “This transaction is an exciting step forward for Riverbed that will enable us to build on the strong momentum underway. Vector Capital has an impressive track record of building and scaling global technology companies and driving value for all stakeholders, and we look forward to partnering with Vector to position Riverbed for the future.”
The transaction is subject to standard closing conditions, including regulatory approvals, and is anticipated to be finalized in the coming months.
The acquisition of Riverbed Technology by Vector Capital underscores the growing significance of digital experiences and enterprise performance in today’s technology landscape, driving further transformation and growth opportunities for both companies involved.