F5 Networks has acquired the intellectual property assets of Crescendo Networks, a start-up founded in 2002 that pursued application acceleration technology.
The assets were acquired through liquidation proceedings in Israel, where Crescendo Networks was headquartered. In addition, a number of key Crescendo employees are joining F5's office in Tel Aviv.
"We welcome members of Crescendo's engineering team to F5 and look forward to enhancing our industry-leading ADN solutions with their technology," said Dan Matte, SVP of Marketing and Business Development at F5. "In particular, Crescendo's intellectual property and technical expertise provide compelling layer 7 FPGA capabilities for hardware and security solutions. With this acquisition, F5 will further strengthen its products' ability to address both the continuing exponential growth of Internet traffic and the rising number of sophisticated security threats impacting applications." http://www.f5.com
- In July 2008, F5 secured $9.5 million in third round funding for its web application acceleration solutions. Crescendo Networks featured a multi-tier application architecture that improves the operation of existing application infrastructure. Investors included Evergreen Venture Partners, Apax Partners, Magma Venture Partners, StageOne Ventures and Convergent Capital. The company had raised a total of $36.2 million as of that date.
