Sonus Networks, a Westford-based maker of Internet network hardware and software, said Friday it has agreed to purchase Performance Technologies of Rochester, N.Y. for $30 million in cash.
Performance specializes in systems that facilitate mobile computing on smartphones and tablets. Sonus said in a statement announcing the deal that it was eager to acquire Performance’s technology for the Diameter protocol, an increasingly popular system for managing fast-growing Internet traffic on mobile devices.
The acquisition, Sonus estimated, will enable it to go from making products for a $2 billion market today to addressing a $3 billion market in 2017.
“Today’s mobile broadband traffic nearly eclipses all Internet activity from just a decade ago, driving the necessity for intelligent and capable Diameter signaling controllers,” said Sonus chief executive Raymond P. Dolan. “The combination of Sonus and PT allows us to address this significant opportunity by bringing together unique and complementary technologies in wireless and wireline network intelligence.”
Sonus will pay $3.75 per share for Performance, a 26 percent premium on the company’s Wednesday closing price.
The purchase of Performance follows last year’s acquisition of Network Equipment Technologies of Fremont, Calif., as Sonus continues efforts to expand its reach in mobile, social and cloud computing after launching in 1997 with a focus on Internet telephony.