Riverbed to acquire Opnet in $1B deal

The deal will help Riverbed expand into application performance management

Riverbed Technology will acquire Opnet Technologies for about US$1 billion, the two companies said Monday.

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Riverbed said the acquisition will enable it to expand its network performance management business into the application performance management market.

The deal will see Riverbed pay $43 per share to Opnet shareholders, divided into $36.55 in cash and 0.2774 percent of a share of Riverbed common stock. Riverbed said the deal is expected to close by the end of this year.

"This acquisition also transforms Riverbed into a billion-dollar revenue company," Jerry Kennelly, Riverbed's chairman and CEO, said in a statement.

The announcement came as Opnet announced its earnings for the quarter from July to September. It said quarterly revenue was $47 million, a jump from $42 million in the same quarter last year.

Martyn Williams covers mobile telecoms, Silicon Valley and general technology breaking news for The IDG News Service. Follow Martyn on Twitter at @martyn_williams. Martyn's e-mail address is martyn_williams@idg.com

This story, "Riverbed to acquire Opnet in $1B deal" was originally published by IDG News Service .

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