Vector Capital to Acquire Riverbed Technology
May 30, 2023
Share this

Vector Capital, a private equity firm specializing in transformational investments in established technology businesses, has agreed to acquire Riverbed Technology.

Riverbed’s existing lenders will continue to support the company by providing it with a new credit facility at closing. Terms of the transaction were not disclosed.

Andy Fishman, a Managing Director at Vector Capital, 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.”

Stephen Goodman, a Principal at Vector Capital, added: “With a significantly enhanced balance sheet and greater financial flexibility, Riverbed will have the ability to accelerate innovative offerings like Aternity and Alluvio IQ, creating value for its blue-chip customer base.”

Dan Smoot, President and CEO of Riverbed Technology 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. I would also like to thank our talented team for their continued focus and hard work, and our lenders for their ongoing support.”

The transaction is subject to standard and customary closing conditions including the receipt of regulatory approvals and is expected to close in the coming months.

Lazard served as lead investment banker and Stifel and TD Cowen also served as financial advisors to Vector Capital. Paul Hastings LLP served as legal counsel to Vector Capital and Ernst & Young LLP provided accounting advice. Centerview Partners and FTI Consulting served as financial advisors and White & Case LLP served as legal counsel to Riverbed. Houlihan Lokey served as financial advisor and Davis Polk & Wardwell LLP served as legal counsel to a Steering Committee of Riverbed’s Lenders.

Share this

The Latest

June 18, 2024

With the rise of digital transformation and the increasing reliance on applications for business operations, the need for application performance management (APM) has become more critical ... This blog explains what APM is all about, its significance and key features ...

June 17, 2024

Generative AI (GenAI) has captured significant attention by redefining content creation and automation processes. Despite this surge in GenAI's popularity, it's crucial to highlight the continuous, vital role of machine learning (ML) in underpinning crucial business functions. This era is not about GenAI replacing ML; rather, it's about these technologies collaborating to supercharge intelligent automation across industries ...

June 13, 2024

As organizations continue to navigate their digital transformation journeys, the need for efficient, secure, and scalable data movement strategies has never been more critical ... In an era when enterprise IT landscapes are continually evolving, the strategic movement of data has become a cornerstone of maintaining agility, competitive edge, and operational efficiency ...

June 12, 2024

In May, New Relic published the State of Observability for IT and Telecommunications Report to share insights, statistics, and analysis on the adoption and business value of observability for the IT and telecommunications industries. Here are five key takeaways from the report ...

June 11, 2024
Over the past decade, the pace of technological progress has reached unprecedented levels, where fads both quickly rise and shrink in popularity. From AI and composability to augmented reality and quantum computing, the toolkit of emerging technologies is continuing to expand, creating a complex set of opportunities and challenges for businesses to address. In order to keep pace with competitors, avoiding new models and ideas is not an option. It's critical for organizations to determine whether an idea has transformative properties or is just a flash in the pan — a challenge tackled in Endava's new 2024 Emerging Tech Unpacked Report ...
June 10, 2024

The rapidly evolving nature of the industry, particularly with the recent surge in generative AI, can catch firms off-guard, leaving them scrambling to adapt to new trends without the necessary funds ... This blog will discuss effective strategies for optimizing cloud expenses to free up funds for emerging AI technologies, ensuring companies can adapt and thrive without financial strain ...

June 06, 2024

Software developers are spending more than 57% of their time being dragged into "war rooms" to solve application performance issues, rather than investing their time developing new, cutting-edge software applications as part of their organization's innovation strategy, according to a new report from Cisco ...

June 05, 2024

Generative Artificial Intelligence (GenAI) is continuing to see massive adoption and expanding use cases, despite some ongoing concerns related to bias and performance. This is clear from the results of Applause's 2024 GenAI Survey, which examined how digital quality professionals use and experience GenAI technology ... Here's what we found ...

June 04, 2024

Many times customers want to know why their measured performance doesn't match the speed advertised (by the platform vendor, software vendor, network vendor, etc). Assuming the advertised speeds are (a) within the realm of physical possibility and obeys the laws of physics, and (b) are real achievable speeds and not "click-bait," there are at least ten reasons for being unable to achieve advertised speeds. In situations where customer expectations and measured performance don't align, use the following checklist to help determine the reason(s) why ...

June 03, 2024

With so many systems potentially impacting applications performance, it is critical to find ways to separate insights from data that is often white noise. When cross-functional teams have clear alignment on what KPIs matter to them and their users' experiences, they can implement tools and processes that best support them. In the end, there must be collective ownership ...