Oct. 29 (Bloomberg) -- Riverbed Technology Inc., the maker of computer-networking products, has obtained a financing commitment from two banks supporting its $1 billion acquisition of Opnet Technologies Inc.
Morgan Stanley and Goldman Sachs Group Inc. are providing the debt portion of the funding, San Francisco-based Riverbed said in a statement distributed by Business Wire today.
The financing will be about $500 million, Paul O’Farrell, vice president of corporate development and strategy said in a telephone interview.
“We see tremendous growth potential in the application market place and are confident in the combination of the two companies,” David Greene, chief marketing officer, said in a telephone interview.
Riverbed is acquiring shares of Bethesda, Maryland-based Opnet through an exchange offer, according to the statement. It’s expected to be completed before year-end.
The stock-and-cash deal has an enterprise value of $921 million and is expected to close by the end of 2012, the companies said in the statement.
To contact the reporter on this story: Krista Giovacco in New York at email@example.com
To contact the editor responsible for this story: Faris Khan at firstname.lastname@example.org