The F5 Networks Inc (FFIV) hardware and software company upgrades its business through acquisitions. These quarterly results prove that modernization is a success. The FFIV stock has also made a 10.84% gain in the past month, 48.53% gain in three months, and 38.55% gain in six months. FFIV volatility measured by a single week was 2.62%, while month volatility was 2.80%.
Over the years, F5 has been known as an established manufacturer of filtering and routing hardware that enables servers to distribute inbound traffic throughout the network to optimize performance. F5 has seen the demand for its hardware decline due to the swift adoption of cloud storage. It prompted F5 Networks to transition from hardware solutions to software solutions. One element of the portfolio is the acquisition of businesses, among several others.
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F5 Networks bought NGINX at the beginning of 2019 to bring cloud-based solutions to its application load-balancing solution. That same year, F5 Networks partnered with cloud-based cloud security provider Shape Security to integrate features such as fraud detection. To facilitate easy development, deployment, and security of applications across multiple clouds, F5 Networks announced it would spend $500 million to acquire Volterra.
Consequently, F5 Networks Inc (FFIV) is growing rapidly in the software sector. The company’s total revenue in the quarter ended December 31, 2020, increased by 10% year over year, and its software revenues increased by 70%, to $111 million. In other words, the software portion of total revenues grew from 11% to 18% at F5 Networks.
F5 Networks Inc (FFIV) increased its revenue as well by providing hybrid cloud technologies. During the past quarter, sales of $179 million increased 5% over the prior-year period. Hybrid clouds are preferred by enterprises to remain flexible and support a mix of on-premises and cloud applications.
Therefore, the F5 Networks Inc (FFIV) hybrid cloud business is expected to remain a healthy pick for enterprises on a medium-term basis. Consequently, the company strengthens its position as a leading supplier of equipment and software for the operation of Internet networks. The company continues to be a well-known seller of hardware, and at the same time, it strengthens its expertise in the software sector.