F5 Networks, Inc., (NASDAQ: FFIV), will acquire all issued and outstanding shares of Nginx, a provider of a suite of technologies for developing and delivering modern applications, for a total enterprise value of approximately $670m, subject to certain adjustments.
F5 expects the combination with Nginx will accelerate its product integrations with open source projects and will enhance its technology partnerships with open source vendors. The acquisition will enhance Nginx’ current offerings with F5 security solutions and will integrate F5 cloud-native innovations with Nginx’s software load balancing technology. F5 will also leverage its global sales force, channel infrastructure, and partner ecosystem to scale Nginx’ selling opportunities to the enterprise.
Led by Gus Robertson, CEO, Nginx offers an application platform that enables enterprises undergoing digital transformation to modernize legacy, monolithic applications as well as deliver new, microservices-based applications.
Companies like Netflix, Starbucks, and McDonalds use Nginx to reduce costs, improve resiliency, and speed innovation.
Investors in the company include Blue Cloud Ventures, e.ventures, Goldman Sachs, Index Ventures, MSD Capital, NEA, Runa Capital, and Telstra Ventures.
Upon closing of the acquisition, F5 will maintain the Nginx brand. Robertson, along with founders Igor Sysoev and Maxim Konovalov, will join F5 and will continue to lead Nginx. Robertson will join F5’s senior management team, reporting to François Locoh-Donou. F5 will maintain Nginx’ operations in San Francisco, California and other locations globally.
FinSMEs
12/03/2019