Packet Design Acquired by Private Equity Firm; Appoints New CEO
Leader in IP Network Route Analytics Receives Cash Infusion to Accelerate Growth
SANTA CLARA, CA — March 19, 2013 — Packet Design, the leading provider of IP network route analytics software announced today that it has been acquired by Lone Rock Technology Group, an Austin-based private equity firm specializing in enterprise software. S3 Ventures, an early stage venture firm with a focus on information technology and also based in Austin, joins Lone Rock as a major investor in the company. With the deal, Packet Design announced it has appointed Scott Sherwood, a network and systems management industry veteran, as its new CEO.
Since it was founded in 2003, Packet Design has pioneered the complex science of route analytics. Its patented technology provides unique visibility into routing and traffic behavior across the entire cloud. Network managers at hundreds of the largest service providers, mobile operators, cable and broadband providers, enterprises and government agencies spanning five continents rely on the intelligence Packet Design provides to optimize the performance and control of their networks.
“We believe Packet Design’s technology, world-class talent, and marquee customers position it extremely well in a market growing over 12% CAGR, and we are excited by the Continue reading