F5 Acquires Intellectual Property Assets of Crescendo Networks

F5 Networks, Inc. (NASDAQ: FFIV), the global leader in Application Delivery Networking (ADN), today announced that it has acquired the intellectual property assets of Crescendo Networks.

Founded in 2002, Crescendo developed hardware solutions to help organizations address application delivery challenges, winning a number of industry awards for its innovative products. F5 acquired certain intellectual property and other technology-related assets from Crescendo through liquidation proceedings in Israel, where Crescendo Networks, Ltd. had been headquartered. In addition, a number of key Crescendo employees are joining F5’s office in Tel Aviv.

“We welcome members of Crescendo’s engineering team to F5 and look forward to enhancing our industry-leading ADN solutions with their technology,” said Dan Matte, SVP of Marketing and Business Development at F5. “In particular, Crescendo’s intellectual property and technical expertise provide compelling layer 7 FPGA capabilities for hardware and security solutions. With this acquisition, F5 will further strengthen its products’ ability to address both the continuing exponential growth of Internet traffic and the rising number of sophisticated security threats impacting applications.”

“Part of F5’s secret to success has been its ability to leverage appropriate capabilities in either hardware or software to solve customer problems,” said Lucinda Borovick, Research Vice President, Datacenter Networks at IDC. “The Crescendo team had ambitious goals and developed innovative intellectual property for hardware. If F5 can leverage the best of Crescendo’s IP, it should help them raise the bar for security and performance in the Application Delivery Controller market.”

The acquisition of Crescendo’s intellectual property assets is not expected to have a material impact on F5’s quarterly financial results, scheduled for announcement on October 25, 2011.