Network gear maker Riverbed Technology is being acquired for about $3.6 billion, or $21 per share in cash, by private equity firm Thoma Bravo and the private investor arm of Ontario Teachers’ Pension Plan.
The San Francisco vendor, which specializes in WAN optimization, has pretty much been in play since hedge fund [company]Elliott Management[/company] launched a $3.08 billion ($19-per-share) bid in January.
Elliott, which remains Riverbed’s largest shareholder, supports this deal, according to a statement from Jesse Cohen, head of U.S. Equity Management, for the firm.
Chicago-based [company]Thoma Bravo[/company] has been active in the tech sector. In September it bought Compuware for $2.5 billion just weeks after funneling big bucks into Sailpoint, an identity and access management (IAM) player.
[company]Riverbed [/company]CEO Jerry Kennelly will remain in that position. More here from the San Jose Mercury News.