John Theler returns to the company in the role of Chief Financial Officer
Vector Capital (“Vector”), a leading private equity firm specializing in investments that support transformation in established technology companies, announced the completion of the acquisition of Riverbed Technology (“Riverbed” or the “Company”), a leading provider of IT solutions that enable secure, seamless digital experiences and accelerate business performance for global organizations. Following the completion of the transaction, Dave Donatelli has been appointed Chief Executive Officer, effective immediately. Dan Smoot, who previously served as CEO, will continue to support the company on an interim basis.
Donatelli was previously Executive Vice President of Oracle Corporation's Cloud Business Group. Prior to that, Donatelli served as Executive Vice President of Hewlett-Packard's Enterprise Group, leading the $30 billion division and overseeing storage, server, networking and converged infrastructure solutions. He began his professional development at EMC Corporation, holding several leadership roles, most recently as President of EMC's Storage division. He recently assumed the role of lead independent director at MarkLogic, a leading provider of data management and integration solutions and a portfolio company of Vector Capital.
John Theler, who most recently served as CFO at MarkLogic and previously as CFO at Riverbed, rejoins the company as Chief Financial Officer. Theler has over 25 years of experience as a financial professional in medium-sized public and private companies operating in the software, hardware, SaaS services and technology solutions sectors. Prior to joining MarkLogic, Theler served as CFO of Avetta, LLC. He began his career at Ernst & Young, LLP.
"Riverbed is an extraordinary company with a solid foundation that ensures its success. The industry-leading products, Alluvio by Riverbed for Unified Observability and Riverbed Acceleration, are market leaders with world-class customers," said Donatelli. “With significant capital funding, I am excited to work with the Riverbed team and Vector Capital to enhance our offerings through innovation and strategic investments for growth.”
“Dave is a proven executive who brings to Riverbed deep knowledge and experience in driving the growth of growing technology companies,” said Andy Fishman, Managing Director of Vector Capital. "He is a change-maker with a customer-focused approach and is ideally suited to lead the company through its growth and development. We are delighted that John Theler, a highly qualified and experienced financial executive, is joining us as Chief Financial Officer and we welcome him to the team. We would also like to thank Dan Smoot for his work and support during the transition phases, and wish him the best in his future endeavors."
Stephen Goodman, Principal at Vector Capital, added: "We are proud to contribute to Riverbed's growth and believe the company is well positioned to drive greater penetration of its industry-leading products and services. We look forward to working closely with Dave, John and the entire Riverbed team."
