Riverbed Technology Becomes a Private Company
Riverbed Technology, the application performance technology vendor, completed a deal with private equity firm Thoma Bravo for $3.5 billion, according to an eweek.com article.
Riverbed chairman and CEO Jerry Kennelly announced the deal making the company private.
Riverbed underwent shareholder struggles for most of last year and was pressured by investors. IN September 2014, Kennelly said it was restructuring the company in hopes of cutting $25 million from expenses. A review by the board of directors eventually led to the sale in December 2014 too Thoma Bravo and Teachers’ Private Capital.