Riverbed Technology announced the acquisition of Germany-based Ocedo, a provider of software-defined networking and SD-WAN solutions.
“Ocedo is a compelling and strategic acquisition for Riverbed. Their innovative software-defined networking solutions perfectly complement our own strategic investments in R&D, expanding our position to aggressively compete in the emerging markets for software-defined networks and SD-WAN, bringing disruption to the multi-billion dollar branch router market,” said Jerry M. Kennelly, Riverbed Chairman and Chief Executive Officer.
He also said Riverbed is well positioned to help businesses reap the benefits of newer and superior network architectures that are application-centric and software-defined.”
The SD-WAN market is expected to grow significantly in the next several years. Gartner predicts that 30 percent of enterprises will use SD-WAN products in all their branch offices by 2019, up from less than 1 percent today.
Riverbed said this acquisition will boost its Project Tiger initiative, announced in Fall 2015. The company aims to bring to market a new suite of application-centric SD-WAN solutions under the project.
These suits would be designed in a way that it eliminate the need for traditional branch routers, provides cloud-based zero-touch provisioning & management, and will be based on a new software operating platform.
Riverbed plans to launch an initial SD-WAN solution in Q1 2016 to complement and expand the Riverbed Application Performance Platform.
In addition to innovative technology, Ocedo brings to Riverbed experienced leaders and engineering talent. The founding team of Ocedo brings decades of experience in the networking industry, including co-founding Astaro, a network security company acquired by Sophos in 2011.
Financial details of the acquisition are currently unavailable.