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Riverbed Technology
Riverbed Technology LLC is an American information technology company. Its products consist of software and hardware focused on Unified Observability, Network Visibility, End User Experience Management,[clarification needed] network performance monitoring, application performance management, and wide area networks (WANs), including SD-WAN and WAN optimization.
Riverbed has its headquarters in Redwood City, near San Francisco. Founded in 2002, the company was recapitalized in December 2021 and its majority shareholder was Apollo Global Management at the time. In 2023, it was acquired by private equity firm Vector Capital.
Jerry Kennelly, former CEO, and Steve McCanne, former CTO, founded a technology company in May, 2002, originally named NBT (Next Big Thing) Technology. The company became Riverbed Technology in 2003. Kennelly and McCanne led internal development of the first SteelHead appliances, the 500, 1000, 2000, and 5000 models, and the first SteelHead shipped in April 2004 to Environment Canada.
Riverbed stock began trading on NASDAQ September 21, 2006. Riverbed opened up an off-site location at Research Park, University of Illinois at Urbana-Champaign before 2009.
In February 2014, the US hedge fund Elliott Management Corporation made a $3.36 billion offer to acquire Riverbed (after a bid of $3.08 was rejected).
In October 2014 NetApp acquired Riverbed's SteelStore line of data backup and protection products, which NetApp later renamed as "AltaVault".
On December 15, 2014, Riverbed announced it would be acquired by private equity investment firm Thoma Bravo, LLC and Teachers’ Private Capital, the private investor department of Ontario Teachers’ Pension Plan. The value was estimated at $3.6 billion, and closed in April 2015.
On April 3, 2018, Riverbed announced the retirement of co-founder and CEO Jerry M. Kennelly and appointment of Paul Mountford as CEO.
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Riverbed Technology
Riverbed Technology LLC is an American information technology company. Its products consist of software and hardware focused on Unified Observability, Network Visibility, End User Experience Management,[clarification needed] network performance monitoring, application performance management, and wide area networks (WANs), including SD-WAN and WAN optimization.
Riverbed has its headquarters in Redwood City, near San Francisco. Founded in 2002, the company was recapitalized in December 2021 and its majority shareholder was Apollo Global Management at the time. In 2023, it was acquired by private equity firm Vector Capital.
Jerry Kennelly, former CEO, and Steve McCanne, former CTO, founded a technology company in May, 2002, originally named NBT (Next Big Thing) Technology. The company became Riverbed Technology in 2003. Kennelly and McCanne led internal development of the first SteelHead appliances, the 500, 1000, 2000, and 5000 models, and the first SteelHead shipped in April 2004 to Environment Canada.
Riverbed stock began trading on NASDAQ September 21, 2006. Riverbed opened up an off-site location at Research Park, University of Illinois at Urbana-Champaign before 2009.
In February 2014, the US hedge fund Elliott Management Corporation made a $3.36 billion offer to acquire Riverbed (after a bid of $3.08 was rejected).
In October 2014 NetApp acquired Riverbed's SteelStore line of data backup and protection products, which NetApp later renamed as "AltaVault".
On December 15, 2014, Riverbed announced it would be acquired by private equity investment firm Thoma Bravo, LLC and Teachers’ Private Capital, the private investor department of Ontario Teachers’ Pension Plan. The value was estimated at $3.6 billion, and closed in April 2015.
On April 3, 2018, Riverbed announced the retirement of co-founder and CEO Jerry M. Kennelly and appointment of Paul Mountford as CEO.