Secures Million Dollar Contract for NAVL Engine
FREMONT, Calif., Feb. 12, 2013 – Procera Networks, Inc. (NASDAQ: PKT), the global intelligent policy enforcement company, today announced that a large telecommunications equipment manufacturing (TEM) company has licensed Procera's Network Application Visibility Library (NAVL) Deep Packet Inspection (DPI) engine, designed to provide their customers with comprehensive application classification technology to enhance their monitoring and testing applications. Procera expects to recognize the revenue from this contract over the next three years.
"This implementation has the potential to be one of many with this TEM. We are pleased to continue our success providing solutions to telecommunications equipment manufacturers," said Jason Richards, senior vice president of Business Development at Procera. “We see a growing demand for Intelligence Everywhere, and network operators are looking for DPI solutions that enable them to have greater visibility and control of their networks."
NAVL is the industry's most powerful DPI engine, providing real-time, Layer-7 classification of all network application traffic. Delivered as a software developer kit (SDK) and designed for quick integration into Enterprise and Telecommunication network infrastructure platforms, NAVL provides the application visibility and intelligence that enable developers of firewalls, unified threat management (UTM) and other network security and management solutions to apply and enforce application admission, control and performance policies for their enterprise and service provider customers. Procera’s NAVL DPI engine and OEM products are the result of its recent acquisition of Vineyard Networks.
About Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Intelligent Policy Enforcement solutions designed for carriers, service providers and enterprises worldwide. Procera’s PacketLogic solutions provide actionable intelligence and policy enforcement to ensure a high quality experience for any Internet connected devices. Network operators deploy Procera’s technology to enable real-time visibility, superior performance and scalability, and deliver personalized services for millions of enterprises and consumers. For more information, visit www.proceranetworks.com or follow Procera on twitter at @ProceraNetworks.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the potential applications and demand for Procera’s products, the performance of its products, the ability of its products to meet the requirements of customers and the timing of revenue recognition. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause Procera’s results to differ materially from those expressed or implied by such forward-looking statements, including risks related to the acceptance and adoption of Procera’s products; Procera’s ability to service and upgrade its products; lengthy sales cycles and lab and field trial delays by service providers; Procera’s dependence on a limited product line; Procera’s dependence on key employees; Procera’s ability to compete in its industry with companies that are significantly larger and have greater resources; Procera’s ability to protect its intellectual property rights in a global market; Procera’s 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 Procera’s Form 10-K filed for the year ended December 31, 2011, and in its subsequently filed quarterly reports on Form 10-Q. 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.
Fran Lowe, Engage PR for Procera Networks, 510-748-8200 x225, firstname.lastname@example.org
Investor Relations Contact
Charles Messman or Todd Kehrli, MKR Group Inc., 323-468-2300, email@example.com