Marlton-based ONPATH Technologies acquired for $40 million
by Tom Paine, Philly Tech News
[NJTechWeekly.com also missed this November 1, 2013 announcement which occurred immediately after Sandy hit.]
One recent transaction was the acquisition of Marlton-based ONPATH Technologies by Massachusetts-based NetScout Systems, Inc., which was announced on November 1 of last year. In an SEC filing, NetScout said it would pay $40,000,000 for ONPATH minus the cost of any company debt.
NetScout describes ONPATH as "an established provider of scalable monitoring connectivity solutions for high-performance networks that aggregate and distribute network traffic for data, voice, and video testing, monitoring, performance management, and CyberSecurity deployments."
NetScout said in announcing the deal that about 45 existing ONPATH employees will be integrated into NetScout’s ongoing operations. NetScout Systems, Inc. (NASDAQ: NTCT) decribes itself as a "market leader in Unified Service Delivery Management enabling comprehensive end-to-end network and application assurance." In its last quarter NetScout reported net income of $11.1 million on revenue of $91.6 million,up from $83.3 million a year ago.
A spinoff from Brocade Communications Systems, ONPATH received reported funding of at least $11.5 million from investors including Blueprint Ventures, GKM Ventures, L Capital Partners and The Carlyle Group. It raised an additional $1 million last year.
[This story was originally posted Feb. 3, 2013 by Philly Tech News. It is slightly modified and reposted with the author's permission. You can find the original article here.]