The Ontario Teachers’ Pension Plan and private equity investment firm Thoma Bravo have agreed to buy network equipment maker Riverbed Technology for US$3.6 billion ($4.2 billion).
The agreement was unanimously approved by Riverbed’s board of directors following a comprehensive review of strategic and financial alternatives that the company announced earlier this year.
The transaction, which is expected to close in the first half of 2015, is subject to approval by Riverbed stockholders, regulatory approvals, including antitrust reviews in the U.S., Germany and Taiwan, and review and clearance by the Committee on Foreign Investment in the U.S., and other customary closing conditions.
Riverbed Technology has more than US$1 billion in annual revenue and more than 25,000 customers.
Read: