"F5's new business unit will provide the strategic vision, focus and technical expertise required to be successful in this competitive market," said F5 President and CEO John McAdam in a statement.
The new business unit will include 80 people, including about 20 sales, marketing and development personnel from MagniFire, according to F5.
F5 will continue to operate MagniFire's development facility in Tel Aviv, Israel. The new security unit also will include assets that F5 acquired from SSL VPN vendor uRoam last July.
F5 and MagniFire plan to disclose further details of the acquisition during a public conference call on Wednesday. Shares of F5 traded at $29.49, down 19 cents, as of Tuesday afternoon.
Article appears courtesy of CRN.
Discover the benefits of scalable backbone and network services for application and cloud providers.
Network automation is gaining momentum. Here's how you can drive this powerful technology to its full potential.
Subsea cable alternatives can provide a level of comfort for those concerned about disruptions. Realistically, they will continue to play a small, but critical role in the short term.
