Vector Capital, a private equity firm focused on transformational investments in technology businesses, has agreed to buy Riverbed Technology, an information technology services provider that offers digital experiences and works to drive enterprise performance to global corporations.
The company’s two services, Alluvio by Riverbed for Unified Observability and Riverbed Acceleration, work to help its customers transform data into insights and deliver acceleration of apps over networks. Riverbed’s existing lenders will continue to support the company by providing it with a new credit facility at closing.
“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,” comments Stephen Goodman, a principal at Vector Capital.