Nov 8 (Reuters) - Elliott Management Corp has taken a stake
in software firm F5 Networks Inc, making it one of the
company's largest investors, a person familiar with the matter
The size of the position was unclear, but it fell below the
5% threshold that would require regulatory disclosure. The news
was first reported https://www.wsj.com/articles/elliott-management-takes-stake-in-software-company-f5-networks-11604870484
by The Wall Street Journal on Sunday.
The activist-investor spoke to F5 Networks' management in
recent weeks regarding ways to boost its lagging stock, the
newspaper said. The report added that Elliott managers
questioned the software company's recent acquisitions of Shape
Security Inc and Nginx Software Inc, suggesting it may have
overpaid without a clear integration strategy.
F5 Networks bought Shape Security last year for a total
enterprise value of about $1 billion in cash and acquired Nginx
Software for about $670 million.
F5 Networks did not respond to Reuters' request for comment.
Founded in 1977, New York-based Elliott managed
approximately $41 billion in assets, as of July 1, making it one
of the largest and oldest hedge fund firms in the world. Still
led by billionaire founder Paul Singer, the multi-strategy firm
has developed a formidable corporate activism unit led by Jesse
(Reporting by Maria Ponnezhath in Bengaluru and Lawrence
Delevingne in Boston; Editing by Peter Cooney, Lincoln Feast and