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M&A Deal Summary

Apollo Global Management Acquires Riverbed

On December 10, 2021, asset manager Apollo Global Management acquired software company Riverbed

Acquisition Highlights
  • This is Apollo Global Management’s 2nd transaction in the Software sector.
  • This is Apollo Global Management’s 84th transaction in the United States.
  • This is Apollo Global Management’s 12th transaction in California.
Investment Fate
  • Riverbed was sold to a consortium of financial buyers in 2023.

M&A Deal Summary
Date 2021-12-10
Target Riverbed
Sector Software
Buyer(s) Apollo Global Management
Deal Type Special Situations/Distressed
Advisor(s) AlixPartners
GLC Advisors & Co. (Financial)
Kirkland & Ellis (Legal)

Target

Riverbed

San Francisco, California, United States
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.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 117 of 151
Sector: Software M&A 2 of 2
Type: Special Situations/Distressed M&A Deals 6 of 6
State: California M&A 12 of 17
Country: United States M&A 84 of 108
Year: 2021 M&A 19 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-29 Aqua Finance

Wausau, Wisconsin, United States

Aqua Finance is a specialist lending platform that originates and services consumer loans, primarily for home improvement and water treatment. Aqua Finance was formed in 1985 and is based in Wausau, Wisconsin.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-24 Miller Homes

Edinburgh, United Kingdom

Miller Homes is a privately-owned housebuilder in the UK that has a strong regional footprint through three divisions (Midlands & South, North, and Scotland) and a reputation for delivering quality, family homes in desirable and high-demand locations. Miller Homes focus on sustainable developments on the edge of urban or suburban areas, typically within 45 minutes of the nearest largest town or city. Miller Homes was founded in 1934 and is based in Edinburgh, United Kingdom.

Buy -
Mergr

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