F5 Networks To Buy Privately Held NGINX

(RTTNews) - F5 Networks Inc. (FFIV) Monday said it has agreed to buy privately held NGINX for a total enterprise value of about $670 million.

"F5's acquisition of NGINX strengthens our growth trajectory by accelerating our software and multi-cloud transformation," said François Locoh-Donou, President & CEO of F5. "By bringing F5's world-class application security and rich application services portfolio for improving performance, availability, and management together with NGINX's leading software application delivery and API management solutions, unparalleled credibility and brand recognition in the DevOps community, and massive open source user base, we bridge the divide between NetOps and DevOps with consistent application services across an enterprise's multi-cloud environment."

Upon closing of the acquisition, F5 will maintain the NGINX brand. Gus Robertson, along with NGINX founders Igor Sysoev and Maxim Konovalov, will join F5 and will continue to lead NGINX. Robertson will join F5's senior management team, reporting to François Locoh-Donou. F5 will maintain NGINX's operations in San Francisco, California and other locations globally.

The acquisition of NGINX is expected to increase F5's software revenue growth and increase the company's software revenue mix in fiscal year 2019.