Expand Networks: Difference between revisions
Snowyeti au (talk | contribs) Added Riverbed Asset/IP Acquisition Details |
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company_type = [[Private Company]]| |
company_type = [[Private Company]]| |
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foundation = 1997 | |
foundation = 1997 | |
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liquidated = 2011 | |
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location = [[Roseland, New Jersey]], [[Tel-Aviv, Israel]]| |
location = [[Roseland, New Jersey]], [[Tel-Aviv, Israel]]| |
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key_people = [[Liquidator]]: [[Paz Rimer]]| |
key_people = [[Liquidator]]: [[Paz Rimer]]| |
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In mid October 2011, following the requests of Plenus, one of the company's lenders, an Israeli court appointed a liquidator - Mr. Paz Rimer. The liquidator terminated 24 of the company's employees<ref> Liquidator terminates 24 Expand employees [http://www.globes.co.il/news/article.aspx?did=1000694173]</ref>. 67 of the company's remaining employees have filed with an Israeli court demanding that the court issue a [[liquidation]] order, a process by which a company is brought to an end. <ref> Expand employees request a liquidation order [http://www.calcalist.co.il/local/articles/0,7340,L-3549746,00.html]</ref>. |
In mid October 2011, following the requests of Plenus, one of the company's lenders, an Israeli court appointed a liquidator - Mr. Paz Rimer. The liquidator terminated 24 of the company's employees<ref> Liquidator terminates 24 Expand employees [http://www.globes.co.il/news/article.aspx?did=1000694173]</ref>. 67 of the company's remaining employees have filed with an Israeli court demanding that the court issue a [[liquidation]] order, a process by which a company is brought to an end. <ref> Expand employees request a liquidation order [http://www.calcalist.co.il/local/articles/0,7340,L-3549746,00.html]</ref>. |
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On 11 January 2012, [[Riverbed Technology]] announced that it has purchased certain assets of Expand Networks, including its intellectual property, out of liquidation in Israel. Riverbed® did not purchase the corporate entity of Expand Networks and has not assumed any of Expand's liabilities, obligations or contracts. Riverbed plans to make available for purchase new technical support offerings for Expand products, and expects to work with former Expand customers to explore promotional upgrade opportunities.<ref> Riverbed Purchases Assets of Expand Networks [http://www.riverbed.com/us/company/news/press_releases/2012/press_011112.php]</ref>. |
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== Acquisitions == |
== Acquisitions == |
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The company is attempting to raise an additional loan of $3,000,0000, giving participating shareholders an 8x preference. This is effectively a wash-out round giving the company a pre-money valuation of $0 as none of the current shareholders will see any income should the company be sold for less than $24,000,000<ref>[http://translate.google.com/translate?js=y&prev=_t&hl=en&ie=UTF-8&u=http://www.calcalist.co.il/internet/articles/0,7340,L-3363094,00.html&sl=iw&tl=en&history_state0= Expand continues to transmit signs of distress]</ref><ref>[http://www.calcalist.co.il/internet/articles/0,7340,L-3363094,00.html אקספנד נטוורקס הקלה תנאים למלווה פוטנציאלי]</ref> |
The company is attempting to raise an additional loan of $3,000,0000, giving participating shareholders an 8x preference. This is effectively a wash-out round giving the company a pre-money valuation of $0 as none of the current shareholders will see any income should the company be sold for less than $24,000,000<ref>[http://translate.google.com/translate?js=y&prev=_t&hl=en&ie=UTF-8&u=http://www.calcalist.co.il/internet/articles/0,7340,L-3363094,00.html&sl=iw&tl=en&history_state0= Expand continues to transmit signs of distress]</ref><ref>[http://www.calcalist.co.il/internet/articles/0,7340,L-3363094,00.html אקספנד נטוורקס הקלה תנאים למלווה פוטנציאלי]</ref> |
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Prior to liquidation, the company attracted interest from big industry players, with rumours of a potential acquisition by publicly listed competitive vendor [[Riverbed Technology]] in 2009<ref> Globes: Riverbed in Talks to Acquire Expand Networks, Nov 19th 2009 [http://www.globes.co.il/serveen/globes/docview.asp?did=1000514377] </ref> |
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==External links== |
==External links== |
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Revision as of 13:41, 16 February 2012
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| Company type | Private Company |
|---|---|
| Industry | WAN Acceleration Equipment |
| Founded | 1997 |
| Headquarters | Roseland, New Jersey, Tel-Aviv, Israel |
Key people | Liquidator: Paz Rimer |
| Products | Accelerator appliances, WAN Optimization |
| Website | www.expand.com |
Expand Networks, Ltd., based in Tel Aviv, Israel, is a provider of WAN Optimization solutions, currently run by a Liquidator
About
Expand Networks is privately held. The company was founded in 1998; initial financing was provided by Discount Investment Corporation, The Eurocom Group, Ophir Holdings, and a private group of investors, including Memco Software founder Israel Mezin. Additional investors joined in subsequent rounds of funding. The company has raised over $95,000,000 since inception. [citation needed]
Expand Networks global headquarters is situated in Tel-Aviv, Israel with sales presence across the United States and Europe, New Jersey, Australia [7] China, [8], Singapore, and South Africa.
The company manufactures accelerators in physical [9], virtual [10] and mobile deployment deployment options.
Today the company’s technology includes Byte Level Caching and Dynamic Compression, Layer 7 Quality of Service(QoS)and Monitoring, Application and Protocol Acceleration, Wide Area File Services.
Expand Networks' competitors include; Blue Coat Systems, Cisco Systems, Exinda, Ipanema Technologies, Riverbed Technology.
Liquidation
In mid October 2011, following the requests of Plenus, one of the company's lenders, an Israeli court appointed a liquidator - Mr. Paz Rimer. The liquidator terminated 24 of the company's employees[1]. 67 of the company's remaining employees have filed with an Israeli court demanding that the court issue a liquidation order, a process by which a company is brought to an end. [2].
On 11 January 2012, Riverbed Technology announced that it has purchased certain assets of Expand Networks, including its intellectual property, out of liquidation in Israel. Riverbed® did not purchase the corporate entity of Expand Networks and has not assumed any of Expand's liabilities, obligations or contracts. Riverbed plans to make available for purchase new technical support offerings for Expand products, and expects to work with former Expand customers to explore promotional upgrade opportunities.[3].
Acquisitions
In August, 2005 it was announced that Disksites technology was integrated into the Compass Platform through an OEM agreement[4] Expand later acquired Disksites’ intellectual property, technology, and product line fully integrating into Expand Networks in 2006[5]
In 2008, the company acquired NetPriva, an Australian software provider for $7,300,000 [11] NetPriva specialised in developing software only WAN Optimisation solutions. The acquisition of NetPriva led Expand to deliver a SoftWOC [12]. This solution was launched in 2009 as the Mobile Acceleration Client, or MACC[13]
Additional information
Expand Networks remains a privately held company, and therefore never discloses any of its trading figures to any external parties.
In 2008, the company's revenues were approximately $24,000,000, up from $20,000,000. In 2008, the company lost $13,900,000 - down from a loss of $17,500,000 in 2007.[6][7]
In early 2009, the company laid off an additional 20 employees, reducing its global headcount to 150, of which 80 are in Israel.[citation needed]
The company is attempting to raise an additional loan of $3,000,0000, giving participating shareholders an 8x preference. This is effectively a wash-out round giving the company a pre-money valuation of $0 as none of the current shareholders will see any income should the company be sold for less than $24,000,000[8][9]
Prior to liquidation, the company attracted interest from big industry players, with rumours of a potential acquisition by publicly listed competitive vendor Riverbed Technology in 2009[10]
External links
References
- ^ Liquidator terminates 24 Expand employees [1]
- ^ Expand employees request a liquidation order [2]
- ^ Riverbed Purchases Assets of Expand Networks [3]
- ^ [4] Source: news article by James Rogers, 15th May 2006
- ^ Source: IT Analysis news article 'Acquisition of Disksites'[5]
- ^ Expand Financial Reports Exposed: 14 million dollar loss, Calcalist
- ^ דו"חות אקספנד נחשפים: הפסד של 14 מיליון דולר
- ^ Expand continues to transmit signs of distress
- ^ אקספנד נטוורקס הקלה תנאים למלווה פוטנציאלי
- ^ Globes: Riverbed in Talks to Acquire Expand Networks, Nov 19th 2009 [6]