Monday, August 15, 2011

F5 Buys Crescendo Networks IP, Bolsters Board

Seattle-based F5 Networks, the developer of network web acceleration hardware, said this morning that it has acquired the intellectual property assets of Crescendo Networks out of liquidation. Financial terms of the buy were not disclosed. As part of the acquisition, F5 said it is hiring a number of "key" Cresendo employees. Crescendo Networks was headquartered in Israel. F5 said the deal included certain intellectual property and other technology-related assets of Crescendo. In separate news today, F5 said it added Jonathan Chadwick, SVP and CFO of Skype, to its board.