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Riverbed Technology Confirms Receipt of Unsolicited Proposal from Elliott Management Corporation

SAN FRANCISCO--(BUSINESS WIRE)--Jan. 8, 2014-- Riverbed Technology (NASDAQ:RVBD), the leader in application performance infrastructure, today announced that it has received an unsolicited proposal from Elliott Management Corporation to acquire all outstanding shares of Riverbed for $19.00 per share in cash. Consistent with its fiduciary duties, and in consultation with its financial and legal advisors, Riverbed’s Board will review the offer and communicate its views in due course.

No assurance can be given that the Elliott proposal, or any other transaction, will be consummated. The Company does not intend to disclose developments regarding these matters unless and until its Board of Directors determines there is a material need to update the market.

As part of the commitment of the Riverbed Board and management to shareholders, the Board regularly reviews all options for generating and delivering value. The Board will review the Elliott proposal thoroughly, taking into account the Company's current strategic plan and growth initiatives.

About Riverbed

Riverbed® is the leader in Application Performance Infrastructure, delivering the most complete platform for Location-Independent Computing.™ Location-Independent Computing turns location and distance into a competitive advantage by allowing IT to have the flexibility to host applications and data in the most optimal locations while ensuring applications perform as expected, data is always available when needed, and performance issues are detected and fixed before end users notice. Riverbed's 24,000+ customers include 97% of the Fortune 100 and 95% 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.

Source: Riverbed Technology

MEDIA CONTACTS
Sard Verbinnen & Co
John Christiansen, 415-618-8750
jchristiansen@sardverb.com
Michael Henson, 212-687-8080
mhenson@sardverb.com
or
INVESTOR RELATIONS CONTACT
Riverbed Technology
Renee Lyall, 415-247-6353
renee.lyall@riverbed.com

Riverbed. WAN optimization for your network: Application acceleration, WAN bandwidth optimization, and IT consolidation. Riverbed is the IT performance company. WAN optimization solutions from Riverbed liberate businesses from common IT constraints by increasing application performance, enabling consolidation, and providing enterprise-wide network and application visibility – all while eliminating the need to increase bandwidth, storage or servers. Thousands of companies trust Riverbed to deliver greater productivity and cost savings by making their IT infrastructure faster, less expensive and more responsive. Riverbed solutions are also available as managed services through select providers.