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After emerging from Chapter 11 bankruptcy in 2021, Riverbed Technology is set to be purchased by Vector Capital.
Riverbed CEO Dan Smoot (pictured) said: “This transaction is a step forward for Riverbed that will enable us to build on the strong momentum underway.”
Stephen Goodman, a Principal at Vector Capital, added: “With a significantly enhanced balance sheet and greater financial flexibility, Riverbed will have the ability to accelerate offerings like Aternity and Alluvio IQ.”
The company will retain its lender support via a new credit line post-deal, which is set to close in the following months, pending regulatory approvals.