Allot Communications agreed to acquire the operations of Optenet, a global IT security company providing high-performance Security-as-a-Service (SECaaS) solutions to service providers and large enterprises worldwide, for approximately $6.5 million in cash plus a deferred payment of approximately $5.5 million to be paid over two years following closing.
Optenet is a pioneer and global leader of enabling SECaaS. The company is based in Madrid, Spain and was founded in 1997.
Allot said Optenet's products complement its existing security offerings, especially in the market of DDoS protection and anti-malware. The acquisition is based on an existing successful partnership that has already resulted in ten service provider customer wins, half of which are large tier-1 mobile operators.
"Our acquisition of Optenet will help Allot become a leading player in the consumer Security-as-a-Service market," said Andrei Elefant, President & CEO of Allot Communications. "We have been working with Optenet since 2013 and during that time we have won more than 10 service provider customers together, half of which are large tier one operators. In addition to bringing value to stockholders, this strategic move augments our position in the security market, strengthens our network operator value-added services approach, and complements our cloud and enterprise vision."
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