Accedian Networks

Wireless and wireline network performance solutions
Invested in
2010
Status

Acquired by Bridge Growth Partners in 2017, later acquired by Cisco in 2023

Location
Montreal, Canada
Sector
Technology
Sector
Technology

"The strategic investment made by Summit Partners was a resounding validation of our vision, technological expertise, and capability to service this market. The support we received helped us capitalize on a tremendous market opportunity and positioned us for long-term growth."

Patrick Ostiguy
President and CEO
|
Accedian Networks
5x

Headcount growth, expanding to 250 employees during Summit’s investment

2x

Doubled customer count to more than 300 customers in 60+ countries

3x

Revenue growth, and expanded product portfolio

2017

Completed majority sale to Bridge Growth Partners in 2017

5x

Headcount growth, expanding to 250 employees during Summit’s investment

2x

Doubled customer count to more than 300 customers in 60+ countries

3x

Revenue growth, and expanded product portfolio

2017

Completed majority sale to Bridge Growth Partners in 2017

Accedian Networks was founded in 2005 with a focus on delivering real-time end-to-end network visibility and optimization solutions to help carriers and service providers alleviate performance issues resulting from ever-increasing traffic on wireless and enterprise networks. As carriers competed to attract and retain their customers, many – including T-Mobile, Verizon Wireless and AT&T – turned to Accedian’s performance assurance solutions to dramatically improve the end-user experience. Accedian’s management team sought an experienced equity partner to help manage this rapid growth, strengthen the balance sheet and penetrate new Tier-1 customers. We believe Summit’s deep experience in communications technology, including prior investments in Actix, Commnet Wireless and Ubiquiti Networks – helped us to build a strong relationship with management, and Accedian elected to partner with Summit in 2010.

How Summit Partners Helped

  • Led a minority investment in 2010 to accelerate Accedian’s commercial efforts and support its continuing global market share expansion
  • Worked closely with Accedian to scale the sales organization and transition to a direct sales model, growing the quota-carrying team from five to more than 30 individuals
  • Helped the company build its Board of Directors, recruiting industry veteran George Riedel (formerly of Nortel Networks and Juniper Networks) as Chairman and introducing Paul Milbury (former CFO of Starent Networks and Avid Technology) who became chair of the company’s Audit committee
  • Provided strategic support as the company broadened its product portfolio both organically and via acquisition into an integrated service assurance offering for mobile backhaul as well as datacenter and enterprise connectivity
  • Assisted the company with the acquisition of Prosilient Technologies AB, a Swedish software company that helped Accedian to develop virtualized versions of its products.

At the time of Summit’s exit in 2017, Accedian’s software and technology were used by the world’s largest mobile, enterprise, and carrier networks, including Telefonica, T-Mobile, Cox Business, Softbank, América Móvil, Reliance Jio and COLT. Accedian continued to grow, helping telecom operators worldwide deliver a superior quality of experience for its customers.  In 2023, Accedian was acquired by Cisco (NASDAQ: CSCO).

The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since Accedian Networks is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is not an investor in a Summit fund but may have conflicts arising from his past role with Accedian Networks due to the company’s relationship with Summit.

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