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2014

MagniFire Websystems, a JVP Portfolio Company, Sold to F5 Networks

Proprietary Technology for Protecting Web Applications Sold in $29 Million

Deal



R&D to Remain in Israel Underscoring Country's Leadership in Security

Applications



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    NEW YORK, June 1 /PRNewswire/ -- JVP, one of Israel's leading early stage
 venture capital firms, announced today the sale of its portfolio company,
 MagniFire Websystems Inc., to F5 Networks, Inc., (Nasdaq:   FFIV) for
 $29 million in cash.  F5, the leading provider of Application Traffic
 Management products, will incorporate MagniFire's signature Web security
 gateway, TrafficShield, into its product offerings to help corporations
 address the critical problem of application layer security.
     In 2002, JVP and Lucent Venture Partners transformed MagniFire's content
 networking intellectual property into the leading Web application firewall
 provider.  JVP and Lucent Venture Partners continued to support the company
 with additional funding, identified the financial services market, and
 recruited top executive talent to MagniFire's offices in New York and Israel.
     The acquisition will incorporate MagniFire's solution in F5's extensive
 sales, marketing and distribution channels and further F5's reach in the
 enterprise application security market.  MagniFire's proprietary technology
 and developed products are expected to enhance F5's role as the leading IT
 provider of availability, scalability, performance, and security to over 6000
 customers.
     F5 intends to retain MagniFire's entire staff based in New York and
 Israel.  In doing so, F5 gains a competitive entree into the growing and well
 renowned Israeli security industry, the birthplace of the network firewall.
     "JVP and Lucent Venture Partners have been outstanding partners in
 building our company, and helping to take MagniFire to a new level of
 success," said MagniFire CEO Eitan Bauch.  "As part of F5, we intend to
 dramatically impact the application security market by offering the most
 secure application traffic management solution in the industry."
     According to the FBI / Computer Security Institute, 75 percent of US
 businesses experienced financial losses due to Web-based attacks last year
 alone.
     "Application security is a gaping hole for financial institutions," said
 Allon Bloch, principal at JVP.  "Combined, MagniFire and F5 have the
 opportunity to solve this security breach." Bloch continued, "We are also
 happy to help establish an Israeli R&D center for a fast growing networking
 company like F5."
     By acting as a conduit, JVP incubates first-rate Israeli technology
 companies, and then connects them with customers and financial markets in New
 York City and beyond. MagniFire represents a model that other startup
 companies can emulate.
     "With our focus on both enterprise software and security applications, we
 have been seeding, incubating and building companies such as Precise (acquired
 by Veritas in 2003), Fundtech and MagniFire and emerging leaders like Cyber-
 Ark, Bristol Technologies and Oblicore," said JVP Managing Partner Erel
 Margalit. "Some of these companies are going to fit into the product offering
 of larger companies and are going to be acquired while others we hope to build
 into independent market leaders in their space."
 
     About MagniFire
     MagniFire Websystems is a leading provider of comprehensive web
 infrastructure security solutions. Its highly scalable and flexible
 TrafficShield platform enables businesses to protect their most critical data,
 applications and customer relationships with a low total cost of ownership.
 Headquartered in New York with R&D facilities in Israel and sales offices in
 the UK, MagniFire is backed by premier venture firms including JVP, Lucent
 Venture Partners and other top tier private investors. For more information,
 please visit http://www.magnifire.com.
 
     About JVP
     JVP is a leading Israeli venture capital firm focusing on investments in
 early stage companies in the enterprise software and networking,
 semiconductors and components and mobile infrastructure sectors.  With over
 $680 million under management and offices in New York, London, Jerusalem and
 Tokyo, JVP leverages its international presence, vast expertise and
 substantial capital base to build companies with the potential to shape and
 dominate global markets.  To learn more about JVP, visit
 http://www.jvpvc.com.
 
     About Lucent Venture Partners
     Lucent Venture Partners is the venture capital subsidiary of Lucent
 Technologies with offices in Murray Hill, New Jersey. Formed in 1998, the
 group has invested in early-stage technology companies in high-growth
 communications areas such as optical, data and wireless networking,
 semiconductors, communications software, professional services and e-commerce.
 For more information, go to http://www.luvp.com/about/index.html.
 
      Media Contact:
      Susan Lindner
      Lotus Public Relations
      212-922-5885
      susan.lindner@lotus-pr.com
 
 

SOURCE JVP

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