FREMONT, CA--(Marketwire - Jul 31, 2012) - Procera Networks, Inc. (NASDAQ: PKT), the intelligent policy enforcement company, today announced that Mike Lee has joined the company in the new position of vice president of Business Development. Mr. Lee comes from F5 Networks, where he played a central role in orchestrating and executing their entry into the service provider market. Procera's family of PacketLogic™ Intelligent Policy Enforcement (IPE) bandwidth management solutions and recently announced Application Delivery Networking (ADN) products are in use by a growing number of Tier 1 operators and service providers globally.
"Mike's industry knowledge and experience at F5 Networks in the application delivery market bring proven strength to Procera as we further expand our reach and value proposition," said Jon Lindén, Chief Strategy Officer at Procera. "We are now even better positioned to support our partners, expand our footprint, and ensure that we continue to meet customer requirements."
"Procera is a company with tremendous market opportunity that is in the right place at the right time," said Mr. Lee. "Service providers and Cloud operators need granular, real-time visibility and intelligent policy enforcement to help them monetize their infrastructure by enabling innovative new personalized services for their customers. Procera's newest capabilities further its reputation throughout the industry for technological innovation that successfully meets market needs."
Mike has 20 years of successful sales, business development, and management experience with the passion, vision, and tenacity to penetrate new markets and accelerate corporate revenue growth. Previously, he was founder and CEO of IP3 Networks, a Sequoia Capital funded startup that specialized in advanced network access control, bandwidth management and billing solutions. He's an accomplished business development and sales professional with a strong portfolio of success orchestrating the growth, and optimization of business within telecommunications and Internet infrastructure markets.
About Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Intelligent Policy Enforcement (IPE) solutions designed for carriers, service providers and high-end enterprises to enable proactive quality management; innovative service creation and delivery; detailed business analytics on network utilization and bandwidth consumption; and mitigate security threats. Procera's PacketLogic solutions deliver superior performance, scalability, and functionality to allow personalized services for millions of subscribers as part of the 3GPP Policy and Charging Control architecture. For more information, visit www.proceranetworks.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the market acceptance of our product offering, customers need or willingness to deploy products and solutions leveraging Deep Packet Inspection technology, the ability of our product offering to meet the requirements of customers, the ability of Procera Networks, Inc. to achieve sales growth and the ability to meet customer demand, if any. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements, including risks related to the acceptance and adoption of our products; our ability to service and upgrade our products; lengthy sales cycles and lab and field trial delays by service providers; our dependence on a limited product line; our dependence on key employees; our ability to compete in our industry with companies that are significantly larger and have greater resources; our ability to protect our intellectual property rights in a global market; our ability to manufacture product quickly enough to meet potential demand; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Procera Networks' business are set forth in our Form 10-K filed for the year ended December 31, 2011, and in the subsequently filed Form 10-Q filed for the quarter ended March 31, 2012. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.