M&A Deal Summary

NetApp Acquires Riverbed Technology-SteelStore Product Line

On October 27, 2014, NetApp acquired internet software and services company Riverbed Technology-SteelStore Product Line from Riverbed for 80M USD

Acquisition Highlights
  • This is NetApp’s 1st transaction in the Internet Software and Services sector.
  • This is NetApp’s 6th largest (disclosed) transaction.
  • This is NetApp’s 8th transaction in the United States.

M&A Deal Summary
Date 2014-10-27
Target Riverbed Technology-SteelStore Product Line
Sector Internet Software and Services
Buyer(s) NetApp
Sellers(s) Riverbed
Deal Type Divestiture
Deal Value 80M USD

Target

Riverbed Technology-SteelStore Product Line

United States
The SteelStore product supports backup applications and cloud providers,where customers have a choice in how they extend their existing data protection infrastructure into the cloud.

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Buyer(S) 1

Buyer

NetApp

Sunnyvale, California, United States

website

Category Company
Founded 1992
Sector Information Technology
Employees11,000
Revenue 6.3B USD (2022)
DESCRIPTION
NetApp's corporate headquarters in Sunnyvale, California.
NetApp's corporate headquarters in Sunnyvale, California.

NetApp is a provider of storage systems and data management solutions. NetApp's storage systems help customers streamline operations and lower the cost associated with storing and managing their data. NetApp's unified fabric-attached storage platform offers a storage platform for business applications, shared infrastructures, and cloud environments. The Company's E-Series platform offers modular flexibility and custom configuration capability for a variety of workloads. NetApp was founded in 1992 and is based in Sunnyvale, California.

DEAL STATS #
Overall 8 of 19
Sector (Internet Software and Services) 1 of 4
Type (Divestiture) 2 of 2
Country (United States) 8 of 18
Year (2014) 1 of 1
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-14 ionGrid

Sunnyvale, California, United States

ionGrid, Inc. developed a unique solution that enables users to easily and securely access business files and applications from mobile devices.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-22 SolidFire

Boulder, Colorado, United States

SolidFire, Inc. is a producer of all-flash storage systems built for the next-generation data center where simple scaling, set-and-forget management, assured performance and multi-tenancy, and cloud economic models are driving new market growth.

Buy $870M

Seller(S) 1

SELLER

Riverbed

San Francisco, California, United States

website

Category Company
Founded 2002
Sector Software
Employees2,555
Revenue 1.0B USD (2013)
DESCRIPTION

Riverbed is a provider of software for mobile computing applications services. Riverbed delivers application performance for the globally connected enterprise. It helps clients in implementing strategic initiatives such as virtualization, consolidation, cloud computing, and disaster recovery. Riverbed was founded in 2002 and is based in San Francisco, California.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-28 Infineta Systems - intellectual property

United States

Infineta Systems - intellectual property includes source code and domain names.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 Ocedo

Karlsruhe, Germany

Ocedo GmbH is a provider of software-defined networking and SD-WAN (software-defined wide-area-network) solutions.

Buy -
Mergr

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