Radware cashes in on Alteon acquisition
Application delivery solutions vendor Radware is still feeling the after-effects of its acquisition of Alteon last year, as it posted figures for the first quarter of 2010.
from Nortel in 2009 in the first major sale of the defunct vendor's asset stripping process.
At the end of the year, it relaunched the brand, telling MicroScope it hoped to turn the unit, which Nortel acquired at the turn of the century, into a
billion dollar business
During the three months to the end of March, Israel-based Radware booked sales of $33.1m off the back of the deal, up 61% year-on-year, while GAAP net income hit $600,000, reversing a $6.1m loss during the first quarter of 2009.
"Our continued focus on enterprise datacentre consolidation and traffic management for mobile broadband provides us with major opportunities to continue and grow our business," enthused CEO Roy Zisapel.
"To capitalise on these opportunities we are investing in our busienss across R&D and sales while maintaining financial discipline to grow our profitability," he added.
The firm is targeting sales of between $34m and $35m for the second quarter.