Expand Networks
 | |
| 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 [6] China, [7], Singapore, and South Africa.
The company manufactures accelerators in physical [8], virtual [9] 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].
Acquisitions
In August, 2005 it was announced that Disksites technology was integrated into the Compass Platform through an OEM agreement[3] Expand later acquired Disksites’ intellectual property, technology, and product line fully integrating into Expand Networks in 2006[4]
In 2008, the company acquired NetPriva, an Australian software provider for $7,300,000 [10] NetPriva specialised in developing software only WAN Optimisation solutions. The acquisition of NetPriva led Expand to deliver a SoftWOC [11]. This solution was launched in 2009 as the Mobile Acceleration Client, or MACC[12]
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.[5][6]
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[7][8]
Recently, the company has continued to attract interest from big industry players, with rumours of a potential acquisition by publicly listed competitive vendor Riverbed Technology in 2009[9]
External links
References
- ^ Liquidator terminates 24 Expand employees [1]
- ^ Expand employees request a liquidation order [2]
- ^ [3] Source: news article by James Rogers, 15th May 2006
- ^ Source: IT Analysis news article 'Acquisition of Disksites'[4]
- ^ 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 [5]