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SD-WAN Company Silver Peak for Sale?

Ian Whiting, president, global field operations, Silver Peak Systems.

David Hughes, CEO, Silver Peak Systems

SD-WAN technology company Silver Peak Systems is up for sale and is seeking a potential $1 billion buyout — though there’s no guarantee a deal will emerge, Bloomberg reports.

Updated July 13, 2020: Hewlett Packard Enterprise (HPE) Acquires Silver Peak – Buyout Details

Original July 12 report: Neither Silver Peak nor its venture capital backers have commented on the report.

Silver Peak’s revenues, EBITDA and net income are undisclosed — so it’s difficult to say if a $1 billion buyout price tag sounds reasonable.

Silver Peak, led by CEO David Hughes, competes in a hot, fast-growth market. The worldwide SD-WAN (software defined-wide area networking) market grew 64 percent and surpassed $1 billion for the full year 2019, Dell’Oro Group reports.

Silver Peak ranks among the top five SD-WAN companies in terms of market share, according to Dell’Oro Group. Top rivals include Aryaka, Cisco Systems, Fortinet, Nuage Networks from Nokia, Versa Networks, and VMware SD-WAN by VeloCloud, among others.

Silver Peak Systems: MSP Partner Strategy

Ian Whiting, president of global field operations, oversees direct and indirect sales — including channel and service provider engagements.

Silver Peak’s partner-centric solutions include the Unity EdgeConnect — which enables MSPs to deliver SD-WAN services with SLAs (service level agreements) in and out-of-region, the company says. Unity EdgeConnect  surpassed 1,500 customer deployments in early 2019.

Recent partnerships include:

  • Kentik, which offers a network intelligence platform that integrates with Silver Peak;
  • Starhub, a Singapore service provider that; and
  • Ciena, which has developed new delivery models for communications service providers (CSPs).

Silver Peak Systems: Funding

Silver Peak, founded in 2004, is backed by multiple venture capitalists. TVG made a $90 million strategic investment in 2018. A $21 million Series D rounded — way back in 2007 — featured investments from Artis Capital Management, Benchmark Capital, Duff Ackerman and Goodrich LLC, Greylock Partners, J. & W. Seligman & Co, and Pinnacle Ventures.

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