Radware (NASDAQ: RDWR), the leading provider of integrated application delivery solutions for business-smart networking, today announced that it has completed the acquisition of assets pertaining to Nortel’s [TSX: NT, OTC: NRTLQ] Layer 4-7 Application Delivery Business for the amount of 18 million USD. Included in the acquisition are Nortel’s application delivery products, certain related intellectual property assets, tangible assets, inventory and service contracts in addition to a number of employees related to this business.
A 5-year product support plan will be implemented immediately for all existing Radware [Alteon] customers reinforcing the company’s commitment to the product line and securing the investment of these customers in Alteon technology. Radware plans to continue to sell these products under the Radware Alteon brand and invest in their development - leveraging mutual strengths of both Radware and Alteon technologies and experience - to provide customers with the next generation of more reliable, high-performance and feature-rich solutions.
"We are pleased that the acquisition has been completed and that Radware plans to invest in the future of the Alteon product line, stated Bernd Schwefing COO of Controlware GmbH. “This development commitment combined with their expertise in the space and support guarantee gives us confidence that the business and infrastructure interests of our customers will be well served."
“The addition of the Nortel [Alteon] business to Radware’s product portfolio was a strategic decision to enhance our offering and enable us to leverage the mutual strengths of both Radware and Alteon technologies, providing our customers with the next generation of more reliable, high-performance and feature-rich solutions”, affirmed Roy Zisapel, CEO Radware. We look forward to working with our customers and providing them with the most technology-advanced solutions available in the ADC market.”
“We are encouraged by the acquisition of the Alteon product line by Radware," stated Matthew Pingatore, President & CEO, Packet Fusion. "Not only will this provide continuity to customers under the guidance of an experienced application delivery provider, it will also present us with additional, value-added opportunities to pursue as a partner."
“Radware’s acquisition of the application switching and acceleration products is a good sign. We have enjoyed success in implementing and supporting these products across the UK,” offered Stuart Brown, Product Manager at Maxima. “Their assurance to evolve the product line and provide immediate, knowledgeable technical support gives us confidence that our customers will be well served.”
For additional information about the acquisition, please go to: www.radwarealteon.com
About Radware
Radware (NASDAQ:RDWR), the global leader in integrated application delivery solutions, assures the full availability, maximum performance, and complete security of business-critical applications for more than 6,000 enterprises and carriers worldwide. With APSolute™, Radware’s comprehensive and award-winning suite of application delivery and network security products, companies in every industry can drive business productivity, improve profitability, and reduce IT operating and infrastructure costs by making their networks business smart. For more information, please visit www.radware.com.
This press release reflects our current views with respect to future events and is based on forward-looking statementsand assumptions which are subject to risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (a) general business conditions in the Application Switching or Network Security industry; (b) changes in demand for Application Switching or Network Security products; (c) the timing and amount or cancellation of orders; (d) the ability to successfully integrate the Alteon business into our organization and operations; (e) the inability to achieve expected synergies as a result of the acquisition of the Alteon business; (f) economic conditions and exchange rates; (g) actions by competitors; (h) the continuation of key vendor relationships; (i) the ability to maintain the Alteon customer base; j) the incurrence of unanticipated liabilities as a result of the acquisition of the Alteon business; (k) unanticipated legal and administrative proceedings; and (l) other risks detailed from time to time in Radware's filings with the Securities and Exchange Commission, including Radware's Form 20-F. We do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to Radware's filings with the Securities and Exchange Commission, including the “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” sections of Radware's Form 20-F for a more detailed explanation of the inherent limitations in such forward looking statements.