Two years ago, Vancouver's Strangeloop Networks inked strategic partnerships with two significant players in the competitive content delivery network space: Industry gorilla Akamai Technologies and upstart Level 3 Communications.
At the time, we wondered aloud why one of those companies didn't simply acquire them. Today, somebody else did.
Tel Aviv-based, NASDAQ-traded Radware announced today that they have acquired Strangeloop for an undisclosed sum.
Radware is a provider of integrated Application delivery, Network Security and Load balancing solutions and Strangeloop develops front-end website optimization technology. Strangeloop's flagship product is the Strangeloop Site Optimizer, technology that automatically streamlines web page HTML code and resources, allowing pages to render faster at the user's browser level.
Strategic acquisitions are nothing new for Radware. In April 2007, they acquired Covelight Systems for $16 million. And in February 2009 they acquired Nortel’s Alteon Application Delivery business.
Strangeloop was cofounded by twins Jonathan and Joshua Bixby in 2006 and went on to raise a $11.5 million series A round in 2007 and a $10 million series B round in 2011. The Bixby brothers previously cofounded IronPoint Technology, which was acquired by The Active Network in 2006.
February 8, 2013 Update: Radware CEO Roy Zisapel reported today during a conference call that Strangeloop Networks was acquired for $8.4 million in cash and up to additional $6 million as an earnout.