Oversi Networks, an Israel-based internet content delivery company previously backed by US-based technology company Cisco, has been sold to Allot Communications, a Nasdaq-listed mobile data network company,
Allot is paying $16m in cash, and up to $5m based on this year’s performance. Oversi will add $2m in revenues to Allot.
In 2010, Oversi raised $4.9m in a series C round from a consortium, including Cisco Systems as well as venture capital firms Carmel Ventures and Smac Partners (formerly known as Siemens Mobile Acceleration), and StageOne Ventures, the corporate venturing division of telecoms company Bezeq. Smac span out from Siemens in a secondaries deal in 2006.
David Tolub, executive president of Oversi, which stores network data short-term in a cache, said: “We have recently won several strategic accounts, including several large tier 1 [communications] operators. Caching has become a basic requirement for operators wishing to reduce expenses while enhancing quality of experience.”
Cisco invested in Oversi’s previous, second round, which raised $8m in June 2007.