- September 12, 2022
- Posted by: James Gansman
- Category: News
Ananda Networks (8e14 Networks, Inc., d/b/a Ananda Networks (the “Company” or “Ananda”) is a cloud-managed service that enables organizations to create their own private networks. Ananda seeks to make the networking experience joyful by replacing cumbersome security, slow performance, high complexity, and cost solutions with a new networking paradigm. Ananda Networks was built after its founders realized that our 20th century networking and security paradigms are simply no longer relevant for our 21st century distributed, cloud enterprise. Rather than continue “patching” the old network with numerous point products, such as firewalls, VPNs, NAC, MPLS, and SD-WAN, it’s time to “fix the network” and build it right from the ground up. Rock Creek Advisors, LLC has been engaged by Ananda to act on their behalf in seeking an interested party to purchase the Company’s assets. Please note, this will be an expedited sale process, and please carefully review the “Sales Process and Timing” section of the Ananda Sales Memo for information on the sales process, requirements, and deadlines.
Upon receipt of an executed confidentiality agreement in form and substance similar to the attached, and upon further receipt of an Indication of Interest demonstrating that you have a bona fide interest in providing a proposal to Ananda to purchase all the Company’s assets, Rock Creek will provide access information for Ananda’s confidential electronic data room.
Rock Creek will provide any interested party such due diligence access or information as Rock Creek determines to be reasonably requested and appropriate under the circumstances.
Rock Creek and the Ananda management team are available to discuss this opportunity at your convenience. The Debtor has selected VMware, Inc. as the stalking horse bidder (in such capacity, the “Stalking Horse Bidder”) pursuant to the Asset Purchase Agreement by and among VMware, Inc. as Buyer and 8e14 Networks, Inc. as Seller, dated as of August 4, 2022 (the “Stalking Horse Agreement”). The Stalking Horse Agreement provides for consideration equal to $14,500,000. The Stalking Horse Agreement contains certain bidder protections and bidding procedures which have been approved by the Delaware Bankruptcy Court (see Sales Information Memo for details). If there is another person at your firm who would be more appropriate to review this matter, please let us know and/or forward this information accordingly. Also, if your firm is not interested in pursuing this opportunity, your response and indication is much appreciated so that we do not follow up further.