WAN optimisation vendor Riverbed has splashed out $1bn (£623m) on application performance management (APM) specialist OPNET.
The vendor today announced it has entered into a definitive agreement to buy NASDAQ-listed OPNET for $43 per share in cash and stock. This represents an equity value of $1bn and an enterprise value of $921m.
Riverbed claimed the combination of OPNET with its own network performance management (NPM) platform, Cascade, would "create a new force in the converged market for NPM and APM" with $250m annualised revenue.
Riverbed chief executive Jerry Kennelly said: "The addition of OPNET establishes Riverbed as the clear leader in the high-growth and converging application and network performance management markets."
OPNET chief executive Marc Cohen added: "Riverbed's leadership in accelerating business technology combined with OPNET's industry-leading suite of APM products provides customers with a single solution for monitoring, troubleshooting and actually fixing the application and network performance problems challenging them today."
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