The New Zealand network protection provider is Allot's first acquisition as a public company.
IP service optimization provider Allot Communications Ltd. (Nasdaq:ALLT) has acquired Esphion Ltd., a New Zealand-based developer of network protection solutions for carriers and internet service providers, for $5.5 million. Allot will pay $3.5 million plus up to an additional $ 2million if certain milestones are met during 2008.
Hod Hasharon-based Allot said that the acquisition furthers its vision of offering value-added services on its new Service Gateway platform to help broadband providers build secure, intelligent networks. The company added that it plans to integrate Esphion's products and technology into its entire product portfolio, including the recently announced Allot Service Gateway.
Allot noted that network and subscriber security is a primary concern for broadband operators.
This is Allot's first acquisition since its IPO a year ago, in which it raised $80 million. The share rose 0.2% in morning trading today, giving it a market cap of $105 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 3, 2008
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