F5 Networks (FFIV) NGINX Acquisition Is A Bold Bet On DevOps - William Blair
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William Blair analyst, Jason Ader, reiterated a Market Perform rating on F5 Networks (NASDAQ: FFIV) after the company announced the acquisition of NGINX, a privately held provider of open-source application delivery software, for an enterprise value of $670 million.
The analyst stated "This is by far F5’s largest acquisition to date, and the hefty multiple paid (26 times calendar 2018 revenue of $26 million) and projected earnings dilution speak to the apparent urgency at F5 to drive revenue growth and better address next-generation applications and the influential DevOps community. F5 management justified the deal as “bridging the divide” between NetOps (F5’s strength) and DevOps (NGINX’s strength)".
Shares of F5 Networks closed at $158.00 yesterday.
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