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F5 Networks to acquire edge-as-a-service startup Volterra for $500M
Network traffic management company F5 Networks Inc. today announced it will acquire “edge-as-a-service” startup Volterra Inc. in a $500 million deal consisting of $440 million in cash and $60 million in future consideration.
Founded in 2017 and launched out of stealth in November 2019, Volterra offers a service-based infrastructure platform designed to help enterprises distribute their applications across public and private clouds and the network edge.
The platform helps DevOps and NetOps teams ease their operational, security and performance challenges as their apps and data are distributed across cloud or edge environments. For DevOps teams, Volterra offers management of large sets of applications with less complexity while NetOps teams can simplify app-to-app networking and security across clouds.
Volterra users include small businesses through Fortune 100 companies. Customers include Softbank Group Corp., Kindred Group plc, Net One Systems Co. Ltd., Cdiscount, Cyber Test Systems and Digital Virgo.
For F5 Networks, the acquisition delivers what it describes as a new “Edge 2.0 open edge platform” that will transform the company’s position in enterprise application and delivery by addressing challenges said to be inherent with first-generation edge solutions. F5 said its Edge 2.0 platform puts security first and offers unlimited scale.
“Current edge solutions are simply inadequate for today’s enterprise customers,” François Locoh-Donou, president and chief executive officer of F5, said in a statement. “It’s time to break out of closed edge systems that only perpetuate the pain of building, running and securing apps. With Volterra, we advance our Adaptive Applications vision with an Edge 2.0 platform that solves the complex multicloud reality enterprise customers confront. Our platform will create a SaaS solution that solves our customers’ biggest pain points.”
Prior to acquisition, Volterra had raised $75 million over two rounds, according to data from both Crunchbase and PitchBook. Investors include Samsung NEXT Ventures, Partech, Mayfield Fund, ITOCHU Technology Ventures, Khosla Ventures, M12 and Telia Ventures.
The deal is expected to close in the first quarter of this year.
Photo: F5 Networks
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