HP buys Israeli network solutions co ConteXtream

With offices in Petah Tikva, ConteXtream has developed carrier-grade network virtualization solutions.

As reported in Globes: HP has acquired ConteXtream, which develops carrier-grade network virtualization solutions. No financial details about the deal were disclosed but markets sources believe the acquisition was for several tens of millions of dollars.

ConteXtream was co-founded in 2006 in Israel by Sharon Barkai and chairman and CEO Nachman Shelef and has raised $24 million to date. ConteXtream’s investors include Benhamou Global Ventures, Comcast Ventures, Norwest Venture Partners, Gemini Israel Ventures, Sofinnova Ventures, and Verizon Ventures. Headquartered in California, the company’s development offices are in Petah Tikva.

After the transaction closes, ConteXtream will become part of HP’s Communications Solutions Business. Shelef will continue to lead the ConteXtream business within HP and will report to Saar Gillai, senior vice president and general manager of HP’s Network Functions Virtualization (NVF) business unit.

Gillai said, ” ConteXtream’s scalable and open and standards-based technology delivers innovative capabilities like advanced service function chaining, and is deployed at a number of major carrier networks across the globe. ConteXtream’s technology connects subscribers to services, enabling carriers to leverage their existing standard server hardware to virtualize functions and services.”

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