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Tech Industry

Packeteer buys IP optimization company for $16.5 million

Bandwidth management specialist ponies up cash for Mentat, which improves satellite-routed Internet connections.

Packeteer, a maker of bandwidth management equipment, announced on Wednesday that it has acquired privately held Mentat, which makes equipment that optimizes Internet connections over satellite networks, for $16.5 million in cash.

Mentat's SkyX product provides acceleration of Internet Protocol traffic on satellite and long-haul links. It's used by service providers, corporations, and government organizations. As part of the deal, Packeteer has also agreed to pay about $3.5 million in retention bonuses to Mentat employees in both cash and restricted stock. Mentat will operate as a Packeteer business unit. The deal will add between $6 million and $7 million to Packeteer's total net revenue in 2005, the company said in a statement.