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US applications delivery company F5 Networks (Nasdaq: FFIV) has acquired the intellectual property assets of Tel Aviv-based computer networking developer Crescendo Networks, the former said in a statement.
F5 acquired certain intellectual property and other technology-related assets from Crescendo through liquidation proceedings at Crescendo's headquarters in Israel. In addition, a number of Crescendo employees are joining F5's office in Tel Aviv.
Founded in 2002, Crescendo develops hardware solutions to accelerate and optimize web applications.
"With this acquisition, F5 will further strengthen its products' ability to address both the continuing exponential growth of internet traffic and the rising number of sophisticated security threats impacting applications," said Dan Matte, senior VP of marketing and business development at F5.
The acquisition is not expected to have a material impact on F5's quarterly financial results.
The purchase expands the company's operations to develop hardware and security solutions, F5 Networks Brazil CEO André Mello was quoted as saying by online news source Computerworld.
In Latin America, the company has field offices in Brazil, Mexico and Chile.