Expand Networks, which went into receivership in October, is set to be acquired by its network optimisation rival Riverbed Technology for a reported $10m.
US-based networking hardware company Riverbed Technology is set to acquire Israel-based network optimisation company Expand Networks for $10m, according to Israeli financial newspaper Globes.
Founded in 1998, Expand went into receivership in mid-October after Plenus Venture Lending Fund petitioned the courts due to Expand failing to repay a 2007 loan worth $10m, in a timely fashion. Globes previously reported interest in Expand in 2009, with Riverbed prepared to pay $30m, though talks later broke down.
Among Expand’s investors are corporate…
