Riverbed considers sale, working with Goldman: report
Nov 13 (Reuters) - Network equipment maker Riverbed Technology Inc is working with Goldman Sachs Group Inc to consider options including a sale of the company, Bloomberg reported citing people familiar with the matter.
Riverbed - under pressure from activist hedge fund Elliott Management Corp - has attracted informal interest from private-equity firms for a leveraged buyout, the report said. ()
Elliott Management, known for publicly agitating for a sale or a board shakeup in the companies in which it invests, had said Riverbed should conduct a strategic review.
The hedge fund had also said it had economic exposure and voting power of about 10.4 percent in Riverbed.
Riverbed had said it was focused on creating value for its shareholders and would continue to maintain an open dialogue with shareholders, including Elliott.
The company and Goldman Sachs were not immediately available for comments on Wednesday's report.
Goldman Sachs had managed Riverbed's initial public offering in 2006.
Riverbed, whose products boost data speeds on wide-area networks by up to 100 times, has been viewed by analysts as an underperformer after it bought Opnet Technologies in a $1 billion deal last year.
The company's shares closed up 8 percent at $19.04 on the Nasdaq on Wednesday. They had jumped 15 percent on Friday.