Vector Capital acquires Riverbed Technology; Dave Donatelli named CEO

On May 30, 2023, Vector Capital agreed to acquire Riverbed Technology, the San Francisco-based networking and IT observability company. Riverbed's existing lenders provided a new credit facility at closing, and terms were not disclosed. Vector completed the acquisition on July 11, 2023, and named former Oracle and HP executive Dave Donatelli as Chief Executive Officer; former MarkLogic CFO John Theler rejoined Riverbed as CFO.

Founded in 2002, Riverbed serves large enterprises and government customers, including 95% of the Fortune 100, through its Unified Observability (Aternity and IQ) and Acceleration product lines. Vector describes Riverbed as the first investment from Vector Capital VI, acquired from a lender group to resolve a distressed situation. Riverbed was previously taken private by Thoma Bravo in 2015.

Riverbed: Vector Capital to Acquire Riverbed Technology (May 30, 2023) · Riverbed: Vector Capital Completes Acquisition (July 11, 2023) · Vector Capital case study