Riverbed Receives Financing for $1 Billion Opnet Purchase
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.
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