Seattle-based application services company F5 is picking up San Francisco-based open source content and website acceleration company NGINX for $670 million.
The move is meant to provide F5 customers with dependable application services regardless of the type of cloud services they are using. NGINXs open source web servers accelerate more than a third of all websites, or roughly 450 million websites.
The deal is expected to close in the second quarter, and F5 (NASDAQ: FFIV) said it will maintain NGINXs operations in San Francisco and its other locations. Those plans bode well for NGINXs approximate 250 employees, of which 115 are in San Francisco. F5 has roughly 4,600 employees worldwide.
NGINXs CEO
Gus Robertson, as well as company founders
Igor Sysoev and
Maxim Konovalov, will join F5s senior managers and the NGINX brand will remain.
NGINX customers include Netflix, Starbucks and McDonalds.
F5 has a portfolio of application services that aims to ensure a customers applications are running at their full capacity and their applications are secure.
NGINX, founded in 2011, last year
raised a $43 million Series C round, led by Goldman Sachs Growth Equity. That round contributed to NGINXs total funding of $103 million.
Over the past four years, the companys revenue has been growing at 100 percent each year and it had more than 1,500 customers.
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