Post acquisition, Dave Donatelli, former Riverbed CFO takes new role as the Chief Executive officer.
Vector Capital (“Vector”) has announced the successful completion of its acquisition of Riverbed Technology (“Riverbed”). In connection with the close of the transaction, Dave Donatelli has been named as the new Chief Executive Officer, effective immediately. Dan Smoot, who previously served as CEO, will continue to support the Company on a transitional basis.
“Riverbed is a terrific business with a strong foundation for success. Its industry leading portfolios, Alluvio by Riverbed for Unified Observability and Riverbed Acceleration are market leaders with blue-chip customer bases. Bolstered by a significantly improved capital structure, I look forward to working with Riverbed’s team and Vector Capital to enhance our product offerings through innovation and strategic growth investments,” said Mr. Donatelli.
“Dave is a proven leader who brings to Riverbed deep knowledge and experience driving growth at scaled technology businesses. He is a purposeful changemaker with a customer-first approach and is the ideal person to lead the company forward as it pursues continued growth and scale. We are excited that John Theler, a highly skilled and proven finance executive, will be joining as CFO and welcome him to the team. We would also like to thank Dan Smoot for his contributions to the company and his support navigating the transition, and wish him the very best in his future endeavors,” said Andy Fishman, Managing Director, Vector Capital.
Not only this, John Theler, who most recently served as the CFO at MarkLogic and earlier as the CFO at Riverbed, is rejoining Riverbed as Chief Financial Officer.
