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News > Deals
Aether buys Riverbed Tech
February 10, 2000: 4:25 p.m. ET

Wireless data systems firm, stock on a roll, buys mobile software company
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NEW YORK (CNNfn) - Wireless data systems provider Aether Systems Inc. agreed Thursday to buy Riverbed Technologies, a maker of mobile computing software, for about $800 million in stock.
    Owings Mills, Md.-based Aether, whose stock has soared 194 percent this year, said it expects to complete the deal by March 15, 2000. The company offers data-delivery management services to wireless companies. The buyout faces approvals from regulators and Riverbed shareholders.
    Shares of Aether (AETH: Research, Estimates) jumped another 41-1/16 to 220 shortly after the announcement. Riverbed, of Vienna, Va., is a privately held provider of mobile computing services and software that helps businesses communicate with their employees through handheld devices.
    "The acquisition of Riverbed Technologies brings us additional capabilities to serve the business community's needs in mobile and wireless computing," said Aether Chairman and Chief Executive Officer David Oros. "Riverbed's software has been accepted as a standard in mobile computing, which fits well with our expertise in wireless data applications."
    Separately Thursday, Aether posted a pro forma fourth-quarter loss before non-cash items of $23.5 million, or 18 cents per share, vs. $1.4 million, or 7 cents a share, a year ago. The consensus analyst forecast was for Aether to post earnings of 18 cents a share, according to research firm First Call Corp. Revenue rose more than ten-fold to $4.1 million. Back to top

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