Riverbed Technology, an IT company that provides networking and observability tools that came out of Chapter 11 bankruptcy in late 2021 with a recapitalization, will be acquired by tech-focused private equity firm Vector Capital from its current investors led by Apollo Management. Apollo bought the company for $675 million in 2021. 

Riverbed’s existing lenders will continue to support the company by providing it with a new credit facility at closing. The amount of the deal was not disclosed. 

San Francisco-based Riverbed develops two services: Alluvio by Riverbed for Unified Observability and Riverbed Acceleration, work to help its customers transform data into insights and deliver acceleration of apps over networks. 

“With a significantly enhanced balance sheet and greater financial flexibility, Riverbed will have the ability to accelerate innovative offerings like Aternity and Alluvio IQ, creating value for its blue-chip customer base,” comments Stephen Goodman, a principal at Vector Capital. 

San Francisco-based Vector Capital, which manages over $4 billion across its private equity and credit strategies, currently holds equity in multiple companies in markets like Riverbed, including security companies Malwarebytes, Kela and WatchGuard Technologies, and in networking companies like Cambium Technologies. 

Meet industry experts like Greenrock Research Founder & President Kevin Malone by joining us at the Connect Money: Alternative Assets Conference on June 14 in Chicago at the W City Center