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Associated Press
01-08-2025
- Business
- Associated Press
NETGEAR® Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN JOSE, Calif.--(BUSINESS WIRE)--Aug 1, 2025-- NETGEAR, Inc. (Nasdaq: NTGR), a global leader in intelligent networking solutions designed to power extraordinary experiences, today announced that it granted inducement equity awards to new employees across several business units of the company. NETGEAR's inducement plan is used exclusively for the grant of equity awards to individuals who were not previously employees of NETGEAR, or following a bona-fide period of non-employment with NETGEAR, in each case as an inducement material to such individuals entering into employment with NETGEAR pursuant to Nasdaq Listing Rule 5635(c)(4). The inducement awards granted to new employees joining NETGEAR unrelated to the Company's recent acquisition of Exium, Inc. consist of awards of time-based restricted stock units ('RSU's') covering 60,141 shares of NETGEAR common stock. One-third (1/3rd) of the total number of shares subject to each RSU Award will vest on the one-year anniversary of the RSU Award's vesting commencement date and one-twelfth (1/12th) of the total number of shares subject to each RSU Award will vest in equal quarterly installments thereafter, in each case subject to each award recipient providing continued service with NETGEAR through the applicable vesting dates. The inducement awards granted to new employees joining NETGEAR in relation to the Company's recent acquisition of Exium, Inc. consist of: (1) 33,333 RSU's to Farooq Khan, the former CEO of Exium, Inc. and now NETGEAR's Vice President of Software Security; (2) 31,110 RSU's to other members of the Exium, Inc. team who have now joined NETGEAR as full time employees ('Exium Team'); (3) an award of performance-based RSU's ('PSU's') with a target amount of 33,333 shares of NETGEAR's common stock to Mr. Khan; and (4) an award of PSU's with a total target amount of 15,557 to the Exium Team. One-third (1/3rd) of the total number of shares subject to Mr. Khan's RSU Award will vest on the one-year anniversary of the RSU Award's vesting commencement date and one-twelfth (1/12th) of the total number of shares subject to Mr. Khan's RSU Award will vest in equal quarterly installments thereafter, in each case subject to Mr. Khan providing continued service with NETGEAR through the applicable vesting dates. One-half (1/2) of the total number of shares subject to the Exium team's RSU Awards will vest on the second anniversary of the closing of the Company's acquisition of Exium, Inc., with the other half vesting on the third anniversary of the same, in each case subject to the award recipients providing continued service with NETGEAR through the applicable vesting dates. The number of shares subject to Mr. Khan's PSU Award that become eligible to vest will be determined based on the achievement of specified performance metrics as of the end of 2025, 2026 and 2027, with 195% potential vesting for the highest levels of achievement. Mr. Khan's vesting eligible PSU's, if any, will vest on March 31 of 2026, 2027 and 2028, respectively, subject to Mr. Khan's continued service with NETGEAR through those dates. The number of shares subject to the Exium Team's PSU Awards that become eligible to vest will be determined based on the achievement of specified performance metrics within sixty (60) days of the twelve month anniversary of the closing of the Company's acquisition of Exium, Inc. The Exium Team's vesting eligible PSU's, if any, will vest on September 30, 2026, subject to the award recipients' continued service to with NETGEAR through that date. About NETGEAR, Inc. Founded in 1996 and headquartered in the USA, NETGEAR® (NASDAQ: NTGR) is a global leader in innovative networking technologies for businesses, homes, and service providers. NETGEAR delivers a wide range of award-winning, intelligent solutions designed to unleash the full potential of connectivity and power extraordinary experiences. For businesses, NETGEAR offers reliable, easy-to-use, high-performance networking solutions, including switches, routers, access points, software, and AV over IP technologies, tailored to meet the diverse needs of small and medium enterprises. NETGEAR's consumer products deliver advanced connectivity, powerful performance, and enhanced security features right out of the box, designed to help keep families safe online, whether at home or on the go. More information is available from the NETGEAR Press Room or by calling (408) 907-8000. Connect with NETGEAR: Facebook, Instagram and the NETGEAR blog at NETGEAR-F View source version on CONTACT: NETGEAR Investor Relations Erik Bylin [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: CONSUMER ELECTRONICS SECURITY TECHNOLOGY SOFTWARE NETWORKS INTERNET HARDWARE SOURCE: NETGEAR, Inc. Copyright Business Wire 2025. PUB: 08/01/2025 05:00 PM/DISC: 08/01/2025 04:59 PM
Yahoo
06-06-2025
- Business
- Yahoo
NTGR Buys Exium to Deliver an Integrated SASE Platform for SMEs & MSPs
NETGEAR Inc. NTGR recently inked a definitive agreement to acquire Exium, a cutting-edge cybersecurity company. The initiative highlights NTGR's continued focus on cloud-based innovations, aligning with its long-standing vision of providing intelligent, reliable, and simplified networking solutions for small and medium enterprises (SMEs) and Managed Service Providers (MSPs). The deal is expected to be closed by the end of the second quarter of 2025, pending customary closing (Secure Access Service Edge) is an architecture that combines networking and security functions, such as SD-WAN, firewall-as-a-service (FWaaS), secure web gateways, and zero trust network access (ZTNA), into a single cloud-native service. The buyout is poised to deliver powerful synergy between networking and cybersecurity, creating a first-of-its-kind, fully integrated SASE platform tailored for the evolving needs of SMEs. NETGEAR, Inc. price-consensus-chart | NETGEAR, Inc. Quote Management highlighted a report from Gartner, as per which the SASE market is poised for explosive growth. The market value is projected to reach $25 billion by 2027 at a CAGR of 29%, as more organizations shift toward cloud-driven networking and security solutions. By incorporating Exium's technology and expertise, NETGEAR for Business (NFB) aims to deliver a comprehensive, user-friendly solution that combines wired and wireless connectivity with built-in firewall protection and advanced security this transaction, NETGEAR is not only acquiring a cybersecurity product but also a purpose-built, MSP-focused platform. Exium has developed its SASE solution from the ground up with usability and scalability in mind, which aligns closely with NTGR's mission of making advanced technology accessible for SMEs, as many of them lack dedicated security staff or complex IT infrastructure. By integrating Exium's SASE capabilities into NETGEAR's Insight cloud management platform, customers gain a seamless, centralized and easy-to-deploy benefits include 'single-pane-of-glass management', quick deployment, cost-effectiveness, advanced cybersecurity and scalability. NETGEAR's strategy will likely continue to evolve as it incorporates more AI-driven threat detection and automated security management features, positioning itself to handle the growing complexities of modern threats without requiring deep technical expertise from end users. Strong performance in NETGEAR's NFB segment and growing recurring revenues are positive indicators for the company's future. Revenues in the NFB segment surged 15.4% year over year to $79.2 million, driven by continued demand for ProAV managed switch products. Gross margin for the segment rose significantly to 46.3%, reflecting an improvement of 440 basis points from the prior-year level. Expansion efforts in the Wi-Fi LAN space also add to the positive ahead, NETGEAR expects steady end-user demand for its ProAV managed switches to continue. While the company is still experiencing supply constraints for certain managed switch models, it anticipates improvement starting in the second quarter and further easing through the rest of the terms of recurring revenues, NETGEAR brought in $8.7 million during the last reported quarter and now has 559,000 recurring subscribers. Growing this subscriber base is seen as key to ensuring long-term financial health and consistent cash business tends to follow a seasonal pattern, with higher sales typically occurring in the third and fourth quarters. This uptick is driven by back-to-school purchases and holiday shopping in consumer markets. As a result, the company experiences fluctuations in cash flow and less consistent earnings throughout the year, making financial performance harder to predict. NTGR currently carries a Zacks Rank #3 (Hold). Shares of the company have soared 114% in the past year compared with the sub-industry's growth of 40.2%. Image Source: Zacks Investment Research Some better-ranked stocks from the broader technology space are Juniper Networks, Inc. JNPR, Arista Networks, Inc. ANET and Ubiquiti Inc. UI. JNPR presently sports a Zacks Rank #1 (Strong Buy), while ANET and UI carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks is leveraging the 400-gig cycle to capture hyperscale switching opportunities inside the data center. The company is set to capitalize on the increasing demand for data center virtualization, cloud computing and mobile traffic packet/optical convergence. Juniper also introduced new features within the AI-driven enterprise portfolio that enable customers to simplify the rollout of their campus wired and wireless networks while bringing greater insight to network operators. In the last reported quarter, it delivered an earnings surprise of 4.88%.Arista delivered a trailing four-quarter average earnings surprise of 11.82% and has a long-term growth expectation of 14.81%. Arista currently serves five verticals, namely cloud titans (customers that deploy more than 1 million servers, cloud specialty providers, service providers, financial services and the rest of the enterprise. It supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques. In the last reported quarter, Ubiquiti delivered an earnings surprise of 33.3%. Its highly flexible global business model remains well-suited to adapt to the changing market dynamics to overcome challenges while maximizing growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Juniper Networks, Inc. (JNPR) : Free Stock Analysis Report NETGEAR, Inc. (NTGR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report Ubiquiti Inc. (UI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Netgear to acquire Exium, terms undisclosed
Netgear (NTGR) announced a definitive agreement to acquire Exium, a cybersecurity company, as part of its continuing investment in cloud-based solutions for advanced business connectivity. Exium CEO Farooq Khan will continue to lead the Exium solution, joining the Netgear for business leadership team. The closing of the transaction is subject to customary closing conditions and is expected to occur by the end of Q2. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on NTGR: Disclaimer & DisclosureReport an Issue Netgear Announces Acquisition of Exium Inc. Netgear Holds Annual Stockholders Meeting with Key Votes NETGEAR's Earnings Call: Strategic Gains Amid Challenges NETGEAR Reports Q1 2025 Financial Results Closing Bell Movers: Microsoft and Meta rally after earnings Sign in to access your portfolio
Time of India
06-06-2025
- Business
- Time of India
Netgear acquires Bengaluru-based cybersecurity startup Exium
US-headquartered networking solutions company Netgear on Friday announced that it has acquired Exium, a cybersecurity startup based in Bengaluru, to provide integrated services for managed service providers (MSPs) and their customers. CEO Farooq Khan will continue to lead the Exium team and will join the Netgear leadership. "Exium is a small team based in Bengaluru. The purpose of acquiring this startup was to have integrated solutions for small and medium enterprises ," Pramod Badjate , president and general manager of Netgear for Business products, told ET. The startup has a secure access service edge (SASE) platform, a security solution deployed in multiple universities across India. This comes a month after Netgear acquired Chennai-based VAAG Systems to boost its in-sourcing of software development capabilities. The acquired company's executive team, research and development (R&D) specialists and engineers are to subsequently join Netgear and drive its software development centre in Chennai. Badjate said the company will hire more than 100 engineers to bulk up its teams over the next 12-18 months. These include its team at the new centre in Chennai and the Exium team. He said Netgear may also broaden its footprint in Bengaluru. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Netgear specifically targets small and medium enterprises (SMEs). "If you're a small or medium enterprise with less than 500 employees and no IT department, you need wifi and routing etc. but that is not enough; you need security as well," Badjate said. The company is also using AI and cloud technologies to automate network setup, troubleshooting and security, helping SMEs scale faster and enhance productivity. "With AI, there will be a huge improvement in productivity. So, software engineers will not be relevant in the same way as they were before. A lot of the grunt work will be automated, but creative work on how to use AI will be around for a long time," he said. Founded in 1996, Netgear is a Nasdaq-listed company valued at $868 million. In the quarter ended March 2025, it reported a net revenue of $162.1 million, down 1.5% from a year ago. The company had announced in May last year that it was exploring the possibility of establishing manufacturing facilities in India. Badjate said no timeline is fixed, but an announcement regarding this can be expected in the coming months.
Business Wire
05-06-2025
- Business
- Business Wire
NETGEAR Delivers on the Next Milestone of its Enterprise Vision with the Acquisition of Exium, Bringing Integrated Networking and Security to Small and Medium Enterprises
SAN JOSE, Calif.--(BUSINESS WIRE)--NETGEAR® Inc. (NASDAQ: NTGR), a global leader in intelligent networking solutions designed to power extraordinary experiences, today announced a definitive agreement to acquire Exium, a cybersecurity company, as part of its continuing investment in cloud-based solutions for advanced business connectivity. The acquisition builds on the company's goal of delivering next-gen networking solutions that provide simplicity, reliability, and cost-effectiveness to small and medium enterprises. Exium's products and expertise will help to add an integrated Secure Access Service Edge (SASE) platform to NETGEAR's robust network offering. This solution will offer the first, completely integrated, network and security solution, purpose built for MSPs and SMEs. According to Gartner, the SASE market is expected to grow at a 29% CAGR, reaching over $25 billion by 2027 as organizations increasingly prioritize cloud-based networking and security solutions. With the integration of Exium's platform and expertise, NETGEAR for Business will build an all-in-one, easy-to-use solution that includes wired and wireless networking as well as firewall and integrated security. 'AI has changed the threat landscape for small and medium enterprises as well as larger businesses, but the solutions for SMEs are often too difficult to implement or need to be cobbled onto the network and managed separately,' said Pramod Badjate, President and GM of NETGEAR for Business. 'By offering the Exium SASE solution with the goal of integrating it into our Insight cloud management platform, we'll be able to bring our customers a seamless, single-pane-of-glass solution that is easily deployed and managed by small IT teams or MSPs.' The Exium team brings deep expertise in building widely deployed networking and security solutions. The company's SASE solution was built with MSPs in mind to help onboard and serve their small and medium enterprise customers rapidly. Exium CEO Farooq Khan will continue to lead the Exium solution, joining the NETGEAR for Business leadership team. 'Exium was built from the ground up as a cybersecurity solution to help protect small and medium enterprises that lack a comprehensive solution for combatting cybersecurity threats,' said Khan. 'We share a similar vision with NETGEAR and are excited to be joining the team to build a fully integrated network and security solution specially tailored to serve the needs of these customers.' The closing of the transaction is subject to customary closing conditions and is expected to occur by the end of Q2 2025. About NETGEAR, Inc. Founded in 1996 and headquartered in the USA, NETGEAR® (NASDAQ: NTGR) is a global leader in innovative networking technologies for businesses, homes, and service providers. NETGEAR delivers a wide range of award-winning, intelligent solutions designed to unleash the full potential of connectivity and power extraordinary experiences. For businesses, NETGEAR offers reliable, easy-to-use, high-performance networking solutions, including switches, routers, access points, software, and AV over IP technologies, tailored to meet the diverse needs of small and medium enterprises. NETGEAR's consumer products deliver advanced connectivity, powerful performance, and enhanced security features right out of the box, designed to help keep families safe online, whether at home or on the go. More information is available from the NETGEAR Press Room or by calling +1 (408) 907-8000. Connect with NETGEAR on LinkedIn, Facebook, Instagram and the NETGEAR blog at ©2025 NETGEAR, Inc. NETGEAR, NETGEAR Insight and the NETGEAR logo are trademarks and/or registered trademarks of NETGEAR, Inc. and/or its affiliates in the United States and/or other countries. Other brand and product names are for identification purposes only and may be trademarks or registered trademarks of their respective holder(s). The information contained herein is subject to change without notice. NETGEAR shall not be liable for technical or editorial errors or omissions contained herein. All rights reserved. Source: NETGEAR-G
