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Riverbed Technology Comments on Elliott Management’s 13D Filing

November 08, 2013

SAN FRANCISCO--(BUSINESS WIRE)--Nov. 8, 2013-- Riverbed Technology (NASDAQ: RVBD), the application performance company, issued the following statement in response to Elliott Management’s 13D filing with the SEC today:

“Riverbed is focused on creating value for all of our shareholders, and maintains an open dialogue with our shareholders, including Elliott.

“Riverbed is pursuing a considered strategy for growth by establishing itself as the leading multi-product platform delivering a complete solution for application and network performance across platforms, locations and devices. Last week we reported, on a non-GAAP basis, third quarter results reflecting 21% year-over-year revenue growth, a nearly 200 basis point sequential improvement in operating margins, and an 18% sequential increase in net income. These results demonstrate strong execution and solid expense management in a mixed economic and weak federal spending environment. We have a strong track record of returning capital to shareholders, including our recent announcement of a $75 million accelerated share repurchase as a part of our current $500 million share repurchase program. Over the last eight quarters, Riverbed has returned approximately 70% of free cash flow to investors in the form of share repurchases. We look forward to meeting with investors and further discussing our strategy at our upcoming analyst day on November 18.”

About Riverbed

Riverbed delivers application performance for the globally connected enterprise. With Riverbed, enterprises can successfully and intelligently implement strategic initiatives such as virtualization, consolidation, cloud computing, and disaster recovery without fear of compromising performance. By giving enterprises the platform they need to understand, optimize and consolidate their IT, Riverbed helps enterprises to build a fast, fluid and dynamic IT architecture that aligns with the business needs of the organization. Additional information about Riverbed (NASDAQ: RVBD) is available at

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.

Source: Riverbed Technology

Sard Verbinnen & Co
John Christiansen, 415-618-8750
Michael Henson, 212-687-8080
Riverbed Technology
Renee Lyall, 415-247-6353