Riverbed Technology enters definitive acquisition agreement with private equity investment firm Thoma Bravo to the tune of $3.6 billion.

Michael Cusanelli, Associate Editor

December 15, 2014

1 Min Read
Jerry M Kennelly chairman and CEO of Riverbed Technology
Jerry M. Kennelly, chairman and CEO of Riverbed Technology

Riverbed Technology (RVBD) entered into a definitive acquisition agreement for $3.6 billion with private equity investment firm Thoma Bravo and Teachers’ Private Capital, according to the company. Riverbed stockholders will receive $21.00 in cash per share as part of the buyout.

“We are extremely pleased with this transaction, which we believe will be a winning proposition for all of our stakeholders,” said Jerry M. Kennelly, chairman and CEO of Riverbed, in a statement. “Having undertaken a thorough strategic review, during which we assessed a wide variety of options to maximize value, the Board unanimously concluded that partnering with Thoma Bravo was the best choice for Riverbed, as this transaction will provide our stockholders with significant and immediate cash value.”

The transaction is expected to close in the first half of 2015, subject to approval by Riverbed’s stockholders. Kennelly is expected to retain his position at Riverbed following the acquisition.

“Riverbed’s strong product portfolio provides unmatched optimization, visibility and control across the hybrid enterprise, which has positioned the Company extremely well in a rapidly-changing landscape,” said Orlando Bravo, a managing partner at Thoma Bravo. “We look forward to working with the talented team at Riverbed to strengthen their leadership position and the value they deliver to customers.

Thoma Bravo’s purchase of Riverbed is the largest investment in the company’s history, according to the announcement.

Riverbed executives could not comment on how the acquisition might affect channel partners or its overarching channel program at the time of publishing.

Read more about:


About the Author(s)

Michael  Cusanelli

Associate Editor, Penton Technology Group, Channel

Michael Cusanelli is the associate editor for Penton Technology’s channel properties, including The VAR Guy, MSPmentor and Talkin' Cloud. He has written articles and produced video for Newsday.com and is a graduate of Stony Brook University's School of Journalism in New York. In his spare time Michael likes to play video games, watch sci-fi movies and participate in all things nerdy. He can be reached at [email protected]


Free Newsletters for the Channel
Register for Your Free Newsletter Now

You May Also Like