Apposite Technologies Receives Growth Investment from Ranch Creek Partners
Additional Capital to Enable Apposite to Expand Leadership in Network Test Tools Market
LOS ANGELES, Calif., December 12, 2016-- Apposite Technologies, the leader in enterprise-class network simulation products, today announced that it has received a growth equity investment from Ranch Creek Partners to enable Apposite to accelerate growth and expand its leadership in the network test tools market. The company also announced that it has appointed Steve Fazio as its new CEO to lead Apposite's growth by focusing on development of complementary products and features and an expansion of the company's sales team and channel partnerships.
"Apposite has done a tremendous job in establishing itself as the solution for network simulation to most of the biggest companies in the world," said J.D. Kritser, founder and managing director of Ranch Creek Partners. "With Steve's leadership and the continued involvement of entire Apposite team, we are poised to accelerate growth both organically and through acquisitions to extend our leadership position."
Steve Fazio, Apposite's new CEO, has more than twenty years of experience launching and operating successful technology companies specializing in network technology, IT solutions, and managed services. His extensive experience growing technology companies while ensuring uninterrupted customer satisfaction will be especially valuable at Apposite where customers depend on the quality of Apposite's products and responsive support.
Apposite's WAN emulation appliances simulate network conditions to test the performance of applications in the lab under real-world conditions. Offering a unique combination of ease-of-use, test lab-level precision, and unmatched prices, Apposite's products are widely deployed by leading enterprises, application developers, telecoms carriers, and government and military organizations across the world.
"With the proliferation of cloud computing and software defined networking, the need for application testing on a simulated network has never been higher," said Fazio. "It's rare to come into a new opportunity with a world-class product, experienced management and a solid customer base, but that's what's here at Apposite," said Fazio. "I'm excited by this opportunity and look forward to building on the success the Apposite team has created."
About Apposite Technologies
Apposite Technologies develops high-precision WAN emulation products used by IT professionals to benchmark the performance of applications across wide area networks. Distinguished by industry-best ease-of-use and unmatched cost-performance, Apposite's award-winning Netropy and Linktropy appliances inform critical decisions impacting bandwidth investment, application deployment, and end-user satisfaction.
About Ranch Creek Partners
Based in Seattle, Wash., Ranch Creek Partners is a West Coast private equity investment firm targeting control positions in middle market companies. Ranch Creek takes a long-term approach to building value, leveraging its deep industry knowledge, creativity and a collaborative investment approach to drive value in its portfolio companies. The firm seeks superior financial results by partnering with founders, world class managers and industry leaders to grow portfolio companies over time, whether organically, through acquisitions or a combination of both. More information is available via the web at www.ranchcreekllc.com.
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