GrowthPoint Acted as Exclusive Financial Advisor to Crescendo Networks on its Acquisition by f5
Crescendo’s core engineering team joins F5, bolsters company’s ADN expertise
Seattle, WA – F5 Networks, Inc. (NASDAQ:FFIV), the global leader in Application Delivery Networking (ADN), today announced that it has acquired the intellectual property assets of Crescendo Networks.
Founded in 2002, Crescendo developed hardware solutions to help organizations address application delivery challenges, winning a number of industry awards for its innovative products. F5 acquired certain intellectual property and other technology-related assets from Crescendo through liquidation proceedings in Israel, where Crescendo Networks, Ltd. had been headquartered. In addition, a number of key Crescendo employees are joining F5’s office in Tel Aviv.
“We welcome members of Crescendo’s engineering team to F5 and look forward to enhancing our industry-leading ADN solutions with their technology,” said Dan Matte, SVP of Marketing and Business Development at F5. “In particular, Crescendo’s intellectual property and technical expertise provide compelling layer 7 FPGA capabilities for hardware and security solutions. With this acquisition, F5 will further strengthen its products’ ability to address both the continuing exponential growth of Internet traffic and the rising number of sophisticated security threats impacting applications.”
“Part of F5’s secret to success has been its ability to leverage appropriate capabilities in either hardware or software to solve customer problems,” said Lucinda Borovick, Research Vice President, Datacenter Networks at IDC. “The Crescendo team had ambitious goals and developed innovative intellectual property for hardware. If F5 can leverage the best of Crescendo’s IP, it should help them raise the bar for security and performance in the Application Delivery Controller market.”
The acquisition of Crescendo’s intellectual property assets is not expected to have a material impact on F5’s quarterly financial results, scheduled for announcement on October 25, 2011.
About F5 Networks
F5 Networks, Inc., the global leader in Application Delivery Networking (ADN), helps the world’s largest enterprises and service providers realize the full value of virtualization, cloud computing, and on-demand IT. F5® solutions help integrate disparate technologies to provide greater control of the infrastructure, improve application delivery and data management, and give users seamless, secure, and accelerated access to applications from their corporate desktops and smart devices. An open architectural framework enables F5 customers to apply business policies at “strategic points of control” across the IT infrastructure and into the public cloud. F5 products give customers the agility they need to align IT with changing business conditions, deploy scalable solutions on demand, and manage mobile access to data and services. Enterprises, service and cloud providers, and leading online companies worldwide rely on F5 to optimize their IT investments and drive business forward. For more information, go to www.f5.com.
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Press Contacts
Alane Moran, F5 Networks, Inc., (206) 272-6850 [email protected]
Holly Hagerman, Connect Public Relations, (801) 373-7888 [email protected]