F5 Networks is acquiring Volterra, the first universal edge-as-a service platform. In a definitive agreement, F5 will be buying all the issued and outstanding shares of Volterra for $440 million in cash and approximately $60 million in deferred consideration and assumed unvested incentive compensation to founders and employees.
The addition of Volterra to F5 will create an edge platform that will be capable of helping enterprises and service providers. “Current edge solutions are simply inadequate for today’s enterprise customers. It’s time to break out of closed edge systems that only perpetuate the pain of building, running, and securing apps,” said François Locoh-Donou, President and CEO, F5. “With Volterra, we advance our Adaptive Applications vision with an Edge 2.0 platform that solves the complex multi-cloud reality enterprise customers confront. Our platform will create a SaaS solution that solves our customers’ biggest pain points. The success of F5’s software transformation has put us in a position to deliver on the potential of Edge 2.0 and redefine our competitive position.”
Ankur Singla, Founder and CEO of Volterra, also expressed his excitement for the deal by saying that the acquisition will extend F5’s application security leadership to the edge.
Foros acted as financial advisor to F5. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to F5, and Goodwin Procter LLP acted as legal advisor to Volterra for the acquisition.