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SAN FRANCISCO—May 12, 2014— Riverbed Technology (NASDAQ: RVBD), the leader in application performance infrastructure, today introduced new product names that better describe what each product does and reflect how together they deliver unique strategic value as part of an integrated solution, the Riverbed® Application Performance Platform™. The consistent naming framework reinforces how Riverbed solutions work together to deliver optimal application and data performance across global infrastructures.
The product renaming is the next step in Riverbed's evolution and expansion into a multi-product company that offers an integrated application performance platform, a growth strategy that has been in the works for several years and unveiled by Riverbed in November 2013. Riverbed's strategy is aimed at fueling its growth in the application performance infrastructure, an $11 billion market opportunity growing at about a 5% compounded annual growth rate (CAGR).
"Riverbed launched our first product 10 years ago with our Steelhead WAN Optimization solution, and over the last four years, we've made the journey from a single product company to something much bigger. Today, we offer the industry's most complete application performance platform to allow customers to host applications and data in whatever location makes the most business sense, regardless of distance or location, while ensuring the flawless delivery of applications and data. We call this concept location-independent computing and it has been the idea behind the solutions we've brought to market for years," said Kate Hutchison, CMO, Riverbed. "We're now updating our product brand names to better communicate what our products do and reinforce how they are part of an integrated platform that ensures applications perform as expected and data is always available when needed."
The Riverbed Application Performance Platform, which includes five product families as well as open APIs, developer tools and professional services, is the only complete solution in the market that optimizes application and data delivery and provides the visibility to detect and fix performance issues before end users notice a problem. With this Platform, companies can host applications and data in the locations that best serve the business - in datacenters, in branch offices, in the cloud or any combination thereof - while ensuring flawless application delivery, better leveraging global resources, radically reducing the cost of running their business and maximizing employee productivity.
The new product family names build off Riverbed's flagship product, Steelhead. Each begins with a word that signifies the strength of infrastructure and celebrates Riverbed's heritage, Steel:
Support from Industry Analysts
"Industry watchers and customers alike have recognized Riverbed as the leader in the WAN Optimization space for many years now," said Rohit Mehra, Vice President, Network Infrastructure, IDC. "As WAN networking technologies and related application performance and management domains have evolved, lines continue to blur across many of these application and performance optimization solutions. Staying focused on providing end-to-end application performance, and as a key player in the network and application infrastructure eco-system, it is refreshing to see Riverbed introduce a newer, simplified positioning and naming for its portfolio that is now significantly broader than the WAN Optimization Steelhead solutions it is most known for."
"The Riverbed Application Performance Platform and new naming convention allows Riverbed to talk about its products more intelligently and cohesively," said Steve Duplessie, Founder and Sr. Analyst, Enterprise Strategy Group. "Riverbed has gone through a significant transformation by broadening the product portfolio over the past few years, but it's been hard for the market to keep pace. This new way of classifying Riverbed technologies will help buyers to see the total value opportunities availed to them."
Riverbed's new product brand names are now live on Riverbed.com, and customers can expect to see the user interfaces of Riverbed products evolve to reflect the new names in the coming months timed to software updates and new appliance releases. The new Riverbed brand identity is now visible at the Company's new headquarters and customer briefing center in San Francisco (officially opening in June), and additional offices and customer briefing centers globally will transition to the new product branding in the coming quarters.
Riverbed has also changed the names of some form factors and product descriptors, which can be found in a quick reference guide at http://www.riverbed.com/products/#Product_List.
This press release contains forward-looking statements, including statements relating to revenue and market growth. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include our ability to react to trends and challenges in our business and the markets in which we operate; our ability to anticipate market needs or develop new or enhanced products to meet those needs; the adoption rate of our products; our ability to establish and maintain successful relationships with our distribution partners; our ability to compete in our industry; fluctuations in demand, sales cycles and prices for our products and services; shortages or price fluctuations in our supply chain; our ability to protect our intellectual property rights; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Riverbed's business are set forth in our Form 10-K filed with the SEC for the period ended December 31, 2013, and our subsequent quarterly reports filed with the SEC. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements. Any future product, feature or related specification that may be referenced in this release are for information purposes only and are not commitments to deliver any technology or enhancement. Riverbed reserves the right to modify future product plans at any time.
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Riverbed enables organizations to modernize their networks and applications with industry-leading SD-WAN, application acceleration, and visibility solutions. Riverbed’s platform allows enterprises to transform application and cloud performance into a competitive advantage by maximizing employee productivity and leveraging IT to create new forms of operational agility. At more than $1 billion in annual revenue, Riverbed’s 28,000+ customers include 97% of the Fortune 100 and 98% of the Forbes Global 100. Learn more at www.riverbed.com.
Riverbed and any Riverbed product or service name or logo used herein are trademarks of Riverbed Technology, Inc. All other trademarks used herein belong to their respective owners.