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F5 Reports 11% Fourth Quarter Revenue Growth and 11% Fiscal Year Revenue Growth Fueled by Strong Software and Systems Demand

F5 Reports 11% Fourth Quarter Revenue Growth and 11% Fiscal Year Revenue Growth Fueled by Strong Software and Systems Demand
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F5 to Acquire Edge-as-a-Service Platform, Volterra - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports


Image sourced from Internewscast
F5 Networks has announced it will acquire all issued and outstanding shares of privately held Volterra for approximately $440 million in cash and approximately $60 million in deferred consideration.
With the addition of Volterra’s technology platform, F5 is creating an edge platform built for enterprises and service providers that will be security-first and app-driven with unlimited scale.
In connection with the transaction, F5 raised its Horizon 2 (fiscal years 2021 and 2022) and long-term revenue outlook, and reiterated its Horizon 2 operating targets, including its commitment to achieving double-digit non-GAAP earnings per share growth.
The company also reiterated its commitment to return $1 billion of capital over the next two years, including the initiation of a $500 million accelerated share repurchase in fiscal year 2021. ....

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F5 Network stock price soars to record highs after acquiring Volterra for $500 Million


Volterra was founded only last year when it raised $50 million
On Friday, shares closed 6.19% higher after surging more than 11% to trade above $200 for the first time ever
Shares of F5 Networks (NASDAQ: FFIV) soared over 6% on Friday to exceed the $200.00 mark for the first time ever. The company announced the acquisition of Volterra startup for $500 million. 
Fundamental analysis: Volterra to be integrated
F5 Networks said it will pay $440 million in cash and $60 million in deferred and unvested incentive payments to acquire could-management startup Volterra. Interestingly, Volterra was founded only last year when it raised $50 million.
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