BTI Systems may be primed for an IPO, according to a story yesterday by the Boston Business Journal.
This is important because it will give the market a better idea of the true value investors place on SDN, which is a very hot new market.
Marlborough, Mass.-based BTI Systems has raised $60 million, including an oversubscribed round last year. It now has 380 worldwide customers served by about 70 employees. Sally Bament, BTI Systems’ senior vice president of global marketing, told the journal that BTI Systems has grown faster than even it expected to.
Driving that growth is rapid adoption of cloud solutions, which put new demands on the data center. BTI Systems addresses that by providing content providers and service providers with software-defined network solutions. (To learn more about SDN, join TMC at SDN Precon on Jan. 28 – which is one week from today – in Miami).
BTI Systems in August issued a press release noting that it had significant momentum and global market penetration. It mentioned that Equinix was using
BTI’s intelligent networking solutions to interconnect data centers in Asia Pacific with results that include 20 percent more capacity, 35 percent in space saving with the smallest footprint per 10G wave, and 15 percent reduction in power consumption.
It said revenues for its data center and cloud solutions for the first half of 2013 equaled 120 percent of total data center and cloud revenues in 2012. It discussed how BTI cloud and data center interconnect solutions have been deployed in major international data center hubs, including Moscow, London, Sydney and Hong Kong. And it said its market momentum increased in APAC, with 1H 2013 bookings growth of 240 percent when compared to 1H 2012 bookings including new deployments with Moratel and S.I NET.
Network virtualization is where SDN is getting most of its leverage today, according to Netsocket in a recent blog. On this front, some service providers already are rolling out SMB edge routing and other services leveraging SDN.
ACG Research believes that SDN-enabled hardware space will exceed $707 million this year and reach $13.3 billion in 2018. The market for SDN software in service provider networks will be valued at $2.3 billion in 2018, the firm says.
Edited by Cassandra Tucker