SEATTLE-- (BUSINESS WIRE)--Jan 25, 2021-- F5 Networks (NASDAQ: FFIV), the leader in application security and delivery, today announced that it has completed the acquisition of Volterra, the first universal edge-as-a-service platform. F5 Networks, a leading company in the field of security and application delivery - whose Gold Unity Partner in Greece and Cyprus is Pylones Hellas - announced the completion of the acquisition of Volterra, a multi-cloud management specialist company, for $ 500 million. These charges are not representative of ongoing costs to the business and are not expected to recur. F5’s Edge 2.0 platform will be: Security-first: Delivering industry-leading security instead of commodity security added to a CDN or cloud. ", "I am excited to work closely alongside François and the F5 team to help pioneer the evolution of the edge to deliver more adaptive, dynamic application experiences for all of our customers," said Ankur Singla, Founder and CEO, Volterra. WE Communications Facility-exit costs. These charges are not representative of ongoing costs to the business and are not expected to recur. In fiscal year 2019, F5 recorded impairment of capitalized software development costs reflecting strategy changes in certain product development initiatives. As a result, F5 is updating its Horizon 2 (fiscal years 2021 and 2022) total revenue growth CAGR to 7% to 8%, from 6% to 7%, and its long-term … F5 is currently working through the accounting close process for the quarter ended December 31, 2020 and therefore an estimate of GAAP earnings, as well as a reconciliation of revenue, net income, and earnings per share on a GAAP to non-GAAP basis is not yet available. However, investors should note that the use of intangible assets contributed to F5’s revenues earned during the periods presented and will contribute to F5’s future period revenues as well. Volterra will remain located in its current Santa Clara headquarters. Based on currently available information, the company estimates the following results for the quarter ended December 31, 2020. Impairment charges. Investors are encouraged to look at GAAP results as the best measure of financial performance. The webcast and call will be recorded, and replays will be available as follows: Replay Via Webcast: Access via the investor relations portion of F5’s website. All other product and company names herein may be trademarks of their respective owners. This reconciliation is expected to be available and provided with the company’s final results announcement, expected on January 26, 2021. F5 Live Conference Call & Webcast Details. F5’s AI technology for fraud and abuse protection—the primary line of cyberdefense for the majority of the largest banks, airlines, and federal agencies—will be made easily deployable by any enterprise. F5 excludes acquisition-related charges from its non-GAAP financial measures to provide a useful comparison of the company’s operating results to prior periods and to its peer companies. Investors should consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures in accordance with GAAP. F5 Networks has today finished its US$ 500 million acquisition of Volterra, an edge-as-a-service platform that will now enter into F5’s efforts to develop an edge platform for business and company. The latest salvo in that contest is F5 Networks’ approximately $500 million acquisition of Volterra. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in F5’s most recent reports on Forms 10-Q and 10-K as each may be amended from time to time. View source version on businesswire.com: https://www.businesswire.com/news/home/20210107005851/en/, Rob Gruening Director, Corporate CommunicationsF5(206) 272-6208r.gruening@f5.com, Suzanne DuLong VP, Investor RelationsF5(206) 272-7049s.dulong@f5.com, Holly Lancaster WE Communications(415) 547-7054hluka@we-worldwide.com, https://www.businesswire.com/news/home/20210107005851/en/. In addition, F5 reiterates its commitment to $1 billion in share repurchases in the next two years, including a $500 million accelerated share repurchase in fiscal year 2021. The audio-only version of the live call can be accessed by dialing (833) 714-0927 for callers in the U.S. and Canada or +1 (778) 560-2886 for listeners from other countries. F5 (NASDAQ: FFIV) is a multi-cloud application security and delivery company that enables our customers—which include the world’s largest enterprises, financial institutions, service providers, and governments—to bring extraordinary digital experiences to life. Management believes that non-GAAP net income per share provides useful supplemental information to management and investors regarding the performance of the company’s core business operations and facilitates comparisons to the company’s historical operating results. In fiscal year 2019, F5 relocated its headquarters in Seattle, Washington, and recorded charges in connection with this facility exit as well as other non-recurring lease activity. ‘My husband told me that my $1,400 stimulus check will be spent on aluminum siding on our home.’ What can I do. GAAP and non-GAAP revenue between $623 and $626 million, representing growth of approximately 10% over the prior year period2, GAAP and non-GAAP software revenue growth of approximately 68% and 70%, respectively3, Systems revenue growth of approximately 5%, GAAP and non-GAAP product revenue growth between approximately 22% to 23%2, Global services revenue growth slightly better than flat, Non-GAAP EPS above the top end of its prior guidance of $2.26 to $2.381. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to F5, and Goodwin Procter LLP acted as legal advisor to Volterra. The F5+Volterra Edge 2.0 platform will be designed to address challenges found with current edge solutions that are built on CDNs and have limited security features. 2 F5 is currently working through the accounting close process for the quarter ended December 31, 2020 and therefore a reconciliation of revenue on a GAAP to non-GAAP basis is not yet available. Volterra enables a new Edge 2.0 open edge platform that will transform F5’s leadership position in enterprise application security and delivery, addressing the challenges inherent with first-generation edge solutions. "We are on track to deliver our best quarterly results since we embarked on our transformation, with approximately 10% revenue growth fueled by continued strong software demand along with resilience in our systems business," added Locoh-Donou. App-driven. F5 Completes Acquisition of Volterra F5 Networks announced that it has completed the acquisition of Volterra, the first universal edge-as-a-service platform. With the addition of Volterra’s technology, F5 is creating an edge platform built for enterprises and service providers that will be security-first and app-driven with unlimited scale. App-driven: Providing universal, "build once, deploy globally" app delivery. F5 will host a live webcast and conference call to discuss the transaction and its preliminary first quarter fiscal year 2021 results with investors and analysts beginning at 5:15 p.m. (206) 272-6208 F5 Networks has announced the completion of the acquisition of Volterra, the first universal edge-as-a-service platform.With the addition of Volterra’s technology, F5 is creating an edge platform built for enterprises and service providers that will be security-first and app-driven with unlimited scale. For more information, go to f5.com. F5 Completes Acquisition of Volterra Combination to create the first Edge 2.0 platform for enterprises and service providers Business Wire SEATTLE -- January 25, 2021 F5 … The addition of Volterra accelerates F5’s total revenue growth expectations. Volterra’s unique multi-cloud technology solves key edge and security problems and has allowed it to quickly gain more than fifty enterprise customers, including three of the top fifteen global telcos. With the addition of Volterra’s technology, F5 is creating an edge platform built for enterprises and service providers that will be security-first and app-driven with unlimited scale. F5 Networks (NASDAQ: FFIV), the leader in application security and delivery, today announced that it has completed the acquisition of Volterra, the first universal edge-as … F5 Networks has completed its acquisition of Volterra. Seattle-based application delivery networking biz F5 is planning to snaffle edge-as-a-service platform upstart Volterra for $500m. F5’s management evaluates and makes operating decisions using various operating measures. F5 You can also contact MarketWatch Customer Service via our Customer Center. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Stock-based compensation consists of expense for stock options, restricted stock, and employee stock purchases through the company’s Employee Stock Purchase Plan. F5’s AI technology for fraud and abuse protection—the primary line of cyberdefense for the majority of the largest banks, airlines, and federal agencies—will be made easily deployable by any enterprise. F5 Networks has completed the acquisition of Volterra, the first universal edge-as-a-service platform. Is there a problem with this press release? Volterra’s innovation rapidly bought 3 of the leading 16 worldwide telecoms companies, consisting of SoftBank. Management does not believe these charges accurately reflect the performance of the company’s ongoing operations, therefore, they are not considered by management in making operating decisions. “I am incredibly excited to welcome Volterra to the F5 family and get to work bringing Edge 2.0—a key part of our Adaptive Applications vision—to customers,” said François Locoh-Donou, F5 President and CEO. F5 also released a preview of its first quarter fiscal year 2021 financial results. The company expects to provide this reconciliation for the quarter ended December 31, 2020 with its final results announcement, expected on January 26, 2021. The modern edge has been evolving for more than twenty years. Volterra provides a platform for managing application deployments on IT platforms. F5 Networks (NASDAQ: FFIV), the leader in application security and delivery, today announced that it has completed the acquisition of Volterra, the first universal edge-as-a-service platform. The company expects to provide GAAP earnings per share for the quarter ended December 31, 2020 with its final results announcement, expected on January 26, 2021. F5 (NASDAQ: FFIV) is a multi-cloud application security and delivery company that enablesour customers—which include the world’s largest enterprises, financial institutions, service providers, and governments—to bring extraordinary digital experiences to life. “When Harshad and I started Volterra, we knew the edge would need to be delivered with the scale of public clouds, but with management and security integrated with the data centers where so many enterprise apps still live. The boards of directors of both F5 and Volterra have approved the transaction, which is subject to regulatory approvals and other customary closing conditions. F5 believes that presenting its non-GAAP measures of earnings and earnings per share provides investors with an additional tool for evaluating the performance of the company’s core business and is used by management in its own evaluation of the company’s performance. Earlier this month, the application services company agreed to buy Volterra for $440 million in … F5 does not acquire businesses on a predictable cycle and the terms and scope of each transaction can vary significantly and are unique to each transaction. Our platform will create a SaaS solution that solves our customers’ biggest pain points. 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. It’s time to break out of closed edge systems that only perpetuate the pain of building, running, and securing apps," said François Locoh-Donou, President and CEO, F5. In addition, these charges do not necessarily provide meaningful insight into the fundamentals of current or past operations of its business. F5 Business Outlook Update. F5 has announced today that they will be acquiring Volterra and our ability to deliver the world’s most advanced edge-as-a-service platform and accelerating the … The purchase, which is subject to the usual regulatory checks, will see F5 pay $440m upfront, with a further $60m earmarked for … "With our platform, we will extend F5’s application security leadership to the edge, thereby expanding our combined reach in the fastest growing segment of F5’s $28 billion 2023 total addressable market.". As a result, F5 is updating its Horizon 2 (fiscal years 2021 and 2022) total revenue growth CAGR to 7% to 8%, from 6% to 7%, and its long-term revenue growth target to double digits from 8% to 9%. The MarketWatch News Department was not involved in the creation of this content. Foros acted as financial advisor to F5. F5 Networks has this week completed its US$500 million acquisition of Volterra, an edge-as-a-service platform that will now become part of F5’s efforts to create an edge platform for enterprises and service providers. The live webcast link can be accessed from the investor relations portion of f5.com. This software-defined edge based on industry standard containers and APIs removes multi-cloud complexity. F5 Networks (NASDAQ: FFIV), the leader in application security and delivery, and Volterra, the first universal edge-as-a-service platform, today announced a definitive agreement under which F5 will acquire all issued and outstanding shares of privately held Volterra for approximately $440 million in cash and approximately $60 million in deferred consideration and assumed unvested incentive compensation to founders and employees. Although F5’s management finds this non-GAAP measure to be useful in evaluating the performance of the core business, management’s reliance on this measure is limited because items excluded from such measures could have a material effect on F5’s earnings and earnings per share calculated in accordance with GAAP. Stock-based compensation. F5 Networks (NASDAQ: FFIV), the leader in application security and delivery, and Volterra, the first universal edge-as-a-service platform, today announced a definitive agreement under which F5 … ET, or 2:15 p.m. PT, today, January 7, 2021. F5 is a trademark or service mark of F5 Networks, Inc., in the U.S. and other countries. Non-GAAP revenue excludes the impact of the purchase accounting write-down on Shape’s assumed deferred revenue. Therefore, F5’s management will use its non-GAAP earnings and earnings per share measures, in conjunction with GAAP earnings and earnings per share measures, to address these limitations when evaluating the performance of the company’s core business. r.gruening@f5.com Contact the source provider Comtex at editorial@comtex.com. F5 raises revenue outlook, reiterates Horizon 2 non-GAAP operating and EPS targets, and reaffirms commitment to $1 billion in share repurchases, F5 expects first quarter fiscal year 2021 GAAP and non-GAAP revenue growth of approximately 10% with GAAP and non-GAAP revenue between $623 to $626 million, and non-GAAP earnings per share above the top end of its prior guidance range of $2.26 to $2.381. NetOps teams can simplify app-to-app networking and security across clouds. All forward-looking statements in this press release are based on information available as of the date hereof and qualified in their entirety by this cautionary statement. Use Meeting ID: 8879455. Small businesses to Fortune 100 companies and global Telco's are using Volterra to deploy and operate distributed applications through a consistent set of cloud services, end-to-end visibility, and control. Director, Corporate Communications However, while the GAAP results are more complete, the company provides investors these supplemental measures since, with reconciliation to GAAP, it may provide additional insight into the company’s operational performance and financial results. 3 Following its acquisition of Shape Security, to provide transparency to what F5 management believes reflects its ongoing business results, for the four quarters following the acquisition, F5 is reporting both GAAP and non-GAAP revenue. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors. (415) 547-7054 Upon closing of the transaction, Ankur Singla, and the Volterra leadership team will join F5 in key management roles. Given F5’s leadership in Adaptive Applications and their vast enterprise customer base, I could not imagine a better partner to empower customers’ business transformation through modern apps.”. App-driven. "With Volterra, we advance our Adaptive Applications vision with an Edge 2.0 platform that solves the complex multi-cloud reality enterprise customers confront. The deal was announced yesterday by F5 Networks. F5 Networks (NASDAQ: FFIV), the leader in application security and delivery, today announced that it has completed the acquisition of Volterra, the first universal edge-as-a-service platform. F5 … View source version on businesswire.com: https://www.businesswire.com/news/home/20210125005477/en/, Rob Gruening F5 Networks (NASDAQ: FFIV), the leader in application security and delivery, today announced that it has completed the acquisition of Volterra, the first universal edge-as-a-service platform. F 5 Networks announced the completion of its acquisition of Volterra on Jan. 25. s.dulong@f5.com F5 Networks has completed the acquisition of Volterra, the first universal edge-as-a-service platform. Such factors include, but are not limited to: customer acceptance of Volterra and F5 offerings; potential disruptions to F5’s business and distraction of management as F5 integrates Volterra’s business, team, and technology; F5’s ability to successfully integrate Volterra’s products with F5 technologies; the ability of F5’s sales professionals and distribution partners to sell Volterra’s product and service offerings; the completion of F5’s review and audit of its first quarter financial results, condition and cash flows, including finalization of the related financial information and guidance; the timely development, introduction and acceptance of additional new products and features by F5 or its competitors; competitive factors, including but not limited to pricing pressures, industry consolidation, entry of new competitors into F5’s markets, and new product and marketing initiatives by our competitors; increased sales discounts; the business impact of the acquisition of Volterra and potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the acquisition; uncertainties as to the timing, including receipt of applicable regulatory approvals, of the Volterra transaction; uncertain global economic conditions which may result in reduced customer demand for our products and services and changes in customer payment patterns; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; litigation involving patents, intellectual property, shareholder and other matters, and governmental investigations; natural catastrophic events; a pandemic or epidemic; F5’s ability to sustain, develop and effectively utilize distribution relationships; F5’s ability to attract, train and retain qualified product development, marketing, sales, professional services and customer support personnel; F5’s ability to expand in international markets; the unpredictability of F5’s sales cycle; the ability of F5 to execute on its share repurchase program including the timing of any repurchases; future prices of F5’s common stock; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission, including our most recent reports on Form 10-K and Form 10-Q and current reports on Form 8-K and other documents that we may file or furnish from time to time, which could cause actual results to vary from expectations. F5+Volterra’s Edge 2.0 platform will deliver the full range of F5’s industry-leading security products in a SaaS model. (206) 272-7049 The latest salvo in that contest is F5 Networks’ approximately $500 million acquisition of Volterra. Included in its GAAP financial statements, F5 records acquisition-related write-downs of assumed deferred revenue to fair value, which results in lower recognized revenue over the term of the contract. F5 Networks Reaches $500 Million Deal for Startup Volterra - … Suzanne DuLong F5 Networks will buy Volterra cloud computing startup for $500M … Please use Meeting ID: 8879455. Marc Rougier, Raphael Maunier, Benjamin Schilz & Réza Malekzadeh (from left to right) F5, the leader in application security and delivery, just announced their acquisition of Volterra for an aggregate consideration of $500M ($440 million in cash and approximately $60 million in deferred consideration). Restructuring charges. 1 F5 is currently working through the accounting close process for the quarter ended December 31, 2020 and an estimate of GAAP earnings per share is not yet available.

Creighton Basketball Plantation, Bonnie Prince Charlie, Martin Cross Sweatshirt, Jackson Vance Girlfriends, Doraville Weather Radar, Wjhl Coronavirus News,