Riverbed Technology
 |
|
| Private | |
| Traded as | Formerly NASDAQ: RVBD |
| Industry | Information Technology Services |
| Founded | May 23, 2002 |
| Headquarters | San Francisco, California, United States |
|
Key people
|
Jerry Kennelly (CEO) |
| Products | WAN optimization, application performance management |
| Revenue |
 US$1.04 billion (2013)
|
| US$8.59 million (2013) | |
| US$-12.41 million (2013) | |
| Total assets | US$1.9 billion (2013) |
| Owner |
Thoma Bravo Teachers Private Capital |
|
Number of employees
|
2,556 (December, 2013) |
| Website | www.riverbed.com |
Riverbed Technology, Inc. is an American IT company that develops products to improve application performance across wide area networks (WANs), a technique known as WAN optimization. Its products reduce latency and bandwidth constraints in delivering applications via WANs to multiple locations across long distances. It also develops products to support network and application performance management.
Riverbed has its headquarters in San Francisco. In December 2014, the company agreed to be acquired by private equity investment firm Thoma Bravo, and the transaction was completed in April 2015.
Jerry Kennelly, CEO, and Steve McCanne, 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 ZDNet reported NetApp's acquisition of Riverbed Technology'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 byprivate equity investment firm Thoma Bravo, LLC and Teachers’ Private Capital, the private investor department of Ontario Teachers’ Pension Plan. The value was estimated at approximately $3.6 billion, and closed in April 2015.
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