Riverbed said the acquisition will enable it to expand its network performance management business into the application performance management market.
The deal will see Riverbed pay $43 per share to Opnet shareholders, divided into $36.55 in cash and 0.2774 percent of a share of Riverbed common stock. Riverbed said the deal is expected to close by the end of this year.
"This acquisition also transforms Riverbed into a billion-dollar revenue company," Jerry Kennelly, Riverbed's chairman and CEO, said in a statement.
The announcement came as Opnet announced its earnings for the quarter from July to September. It said quarterly revenue was $47 million, a jump from $42 million in the same quarter last year.
The IDG News Service